A look around...
EURUSD.
The EURUSD has moved up to the underside of the broken trend line at 1.1028 area. A move back below 1.1010 close from yesterday should take some of the buying euphoria out of the market.
USDCHF
The USDCHF has been moving back lower after testing last weeks highs and falling just short. The pair has moved back to the 100 and 200 hour MA at 0.9948/61 area. If support holds, the 100 day MA at 0.99785 will be eyed. The price has been trading above and below the MA over the last month as traders play swings.
USDCAD
The USDCAD fell post the BOC and oil prices are higher too. The 200 day MA was broken at 1.3290 and the price has moved to the lower trend line support target. The price moved below this trend line on two brief occasions over the last 6 days. Each were for a brief moment. In between the old trend line was tested and held. So I kept the original line in tact. Testing that line at the 1.3224 level The thing about this pair is this is the deepest move below the 200 day MA since September 2014. That is hard to ignore. So sellers will likely lean against the 200 day MA on a rebound.
AUDUSD
The AUDUSD has broken above the 50% of the move down from the May 2015 high and trades in open waters - continuing the run that has seen the pair move sharply higher off the trend line support line 7 days ago. Over that time the price has moved about 418 pips.
Looking at the hourly chart, the pair today based at the low from yesterday. A move above the topside trend line and the 50% saw increased buying interest as the trend resumed and continued. Trends are fast, directional and tend to go further than traders expect. That is what the AUDUSD is doing now.
