The EURUSD & GBPUSD are extending higher in early US trading. What levels are in play? | Forexlive

The EURUSD is testing/cracking through the 200 hour MA. Recall last week, that MA stalled the rally. Today, traders are looking to test/break above the level again.

The USDJPY is higher as well and running counter to the USDs decline vs the EURUSD, but is getting closer to key technical resistance against the converged 100 and 200 day MAs which should attract sellers on the first test.

The GBPUSD is following the EURUSDs lead and moving higher today. In the process, the pair is extending above a topside trend line and 38.2% retracement level.