A look at the charts
The dollar is getting hit over the last few hours.
The EURUSD has rebounded.
The GBPUSD remains elevated
The USDJPY is trading at session lows.
The AUDUSD broke above the 200 day MA for the first time since September 2014
The USDCAD has come off after rallying.
The Beige book is out at 2 PM. Any surprises? Not likely.
The S&P is little changed now.
Oil is sitting in the middle of the range.
EURUSD
The EURUSD has rotated higher after failing to get below the lower trend line
Looking at the 5 minute, the move down today was choppy. The move up from the low has been steady. Is that more bullish? Trades near the day's midpoint.
GBPUSD
The GBPUSD tested the the low from January at 1.40775 (high reached 1.4081) and has come back down.
Looking at the 5-minute, the price based at the 200 hour MA and that triggered the last move to the upside. The price reached resistance and stalled.
USDJPY
The USDJPY has just moved to new session lows and at the same time has moved back below the broken trend line. Bulls are disappointed.
AUDUSD
The AUDUSD was helped by better GDP way at the beginning of the day and that bullishness continues. The pair has moved above the 200 day MA for the first time since September 11, 2014 (yes 2014). That MA comes in at 0.72579 and is the new line in the sand. Stay above and the bulls remain in control. Move below, and the break higher will be a failure. The 07381 is a key target above. Double top at the level.
USDCAD
The USDCAD is a tale of two trend lines. The topside trend line stalled the rally today. The lower trend line did the job yesterday. The price is off the high with traders wondering if the selling will continue to step down. Sellers against the topside trend line today have risk defined. PS the 100 hour MA sits behind the topside trend line at 1.35049.
EURGBP
The EURGBP has been down 5 straight days. but ran into support buyers against the 0.7695 low from Feb 16th low. That and the EURUSD stalling at support trend line, helped turn the pair back up.
