Retraces again to 38.2% and 100 hour MA
The 100 hour MA was busted after an preliminary take a look at held earlier at the moment. That break despatched the pair from 108.42 to the low of the day at 108.04. The worth has rebounded again larger and is up retesting the damaged 100 hour MA at 108.435 AND the 38.2% of the transfer down at the moment at 108.408. I might anticipate that merchants will promote towards the realm with stops on a break above. It’s only a low threat commerce.
Feedback from Fed officers that they’re more likely to stay on maintain helped to weaken the buck. Shares are heading to new session highs which has probably helped the rebound a bit.