EURUSD moves back toward the 200 hour MA


EURUSD rebounds from support. Parity and other goals are threatened

The EURUSD is extending to the upside and looking towards the 200 hour MA at 1.00091 level.

Helping is a drop in US yields. The 2-year is still higher at 3.924% at 3.89%. The 10-year is now lower on the day by 3.3 bps at 3.42%. The 100 hour MA is at 3.403%. A move below is needed to increase the adverse bias at least in the short term. The high yield reached a maximum of 3.49%.

US 10-year yield drops to 100-hour MA

The 200 hour MA has seen moves up and down over the last three trading days, but a swing area between 1.0022 and 1.00328 has given traders an area to support. The 50% midpoint of the September range is also in that area.

Today, however, the 200-hour MA was briefly broken in the Asian session and that provided the upper resistance (near 1.0009 now).

The high just reached 1.0001 – just above the parity and retreated.

If you want to HEAR my thoughts, below is the video excerpt from the morning forex report from earlier today:



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