Dollar trades near lows vs. the major currencies
The US dollar has continued its fall in early New York trading. The US dollar was the weakest currency entering the New York session and has continued that move lower in the 1st few hours of trading. Looking at the rankings of the strongest of the weakest, the GBP remains the strongest while the USD extends its moved to the downside vs. the major currencies.
Taking a look at the high to low changes for the day, the greenback is near extremes vs. all the majors. The GBP is the biggest mover with a gain of 119 pips (higher GBP/lower USD). The USDJPY is down -70 pips (lower USD/higher JPY). The USDCAD was near unchanged at the start of the New York session, but is now trading down -27 pips.
Some moves of note:
- The EURUSD just moved above the next target resistance at 1.2164. The pair has traded up to 1.21721
- The GBPUSD as recently moved above its 2020 high price at 1.3482. The high just reached 1.3489. The 2019 high price comes in at 1.35139 and is the next topside target.
- The USDJPY has moved down to a low price of 103.665. The swing low target from November 18 comes in at 103.646
- The NZDUSD has extended up to the 0.71036 level. That is the highest level since April 25, 2018
- The USDCAD as moved to the lowest level since October 2018
- The AUDUSD is trading at its highest level since August 9, 2018.
- The USDCHF is trading at its lowest level since January 2015.