- USD moves to new highs for the day vs GBP, JPY, CA AUD and NZD
The USD is seeing a tick to the upside as the NY session moves toward the close.
Tomorrow the traders will be dealing with the CPI data at 8:30 AM where the MoM is expected to rise by 0.2% and the YoY to dip to 8.7% from 9.1%. The Core however, is expected to rise by 0.5% and move up to 6.1% from 5.9% last month. Meanwhile Ford is saying that they will be hiking prices of the F150 Lightening by up to $8500 due to "significant cost increases". HMMM inflation is whipped?
EURUSD: The EURUSD is down testing the 200 hour MA again at 1.02047. The 100 hour MA is at 1.01984. Move below each would tilt the bias back to the downside for the pair. Earlier today, the price raced higher, running away from the two moving averages.
GBPUSD: THe GBPUSD is trading to a new session low at 1.20648. The low just moved to 1.20622. IN the process, the pair tests a swing area around 1.2064. The pair at the high today tried to move above the 100 hour MA and the upper trend line but failed. There was news that there was possibility of power cuts to homes and industries in January That turned the GBPUSD back down along with the technical disapointment from the failed break above the 100 hour MA and lower sloping trend line.
AUDUSD: The AUDUSD is falling below its 200 and 100 hour MAs at 0.6965 adn 0.6957 respectively. The new low for the day reached 0.69524. The bias shifted more to the downside on the breaks of the levels. It would now take a move back above the 100 hour MA sat 0.69653 to negate the negative bias shift on the break below the MA levels.
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