The US dollar continues to rise in an uptrend, with the US dollar making new highs against all major currency pairs except the Canadian dollar.
- Euro against the US dollar. EURUSD is testing the 38.2% retracement level of the upward move from the May 1 low. This level comes at 1.0813. Just below that is the 100 day moving average at 1.08063. Getting below both tilts the bias further downward with the 200-day moving average at 1.07859 another key target. Key targets are being approached in EURUSD.
- USDJPY: USDJPY is trading near 157.00. The highest swing level since May 24 comes at 157.19. Above that, the 157.40 – 157.46 area and the swing high from May 157.72 will be targeted.
- GBP/USD: GBP/USD is breaching – and moving away from – the 100-bar moving average on the 4-hour chart at 1.2735. This is a near danger level now for the pair. On the downside, better support comes at 1.2674 – 1.26858.
- USDCHF: USDCHF is trading higher and testing Tuesday's high of 0.89716. So far, sellers are leaning against this level. A break above that would push traders to target the 38.2% retracement of the move down from the May 23 level. This level comes at 0.89863.
This article was written by Greg Michalowski at www.forexlive.com.
The post USD continues its run to the upside. Dollar at new highs vs EUR, GBP, JPY, CHF AUD & NZD first appeared on Investorempires.com.