EURUSD extends higher after weaker ISM data. Dollar moves lower. | Forexlive

The dollar is moving lower after weaker than expected ISM data. Yields have moved sharply to the downside increasing the dollar selling. The two year yield is now down -6.3 basis points and just below the 4% level at 3.994%. The 10 year yield is down to 7.5 basis points at 3.415%.

EURUSD:

The EURUSD moved to a new high above 1.0900. The high price reached 1.09053. The high price up from last Thursday and Friday extended up to 1.09257 and 1.0925. The high price going back to March 23 reach 1.09292. That the ceiling area between 1.0925 1.09292 is a key target. There is also resistance up to 1.09391 from the daily chart going back to 2022 (not shown).

USDJPY:

The USDJPY is cracking below its 100 hour moving average 132.481, and tests a swing area between 132.19 and 132.272. The 200 hour moving averages lower at 131.75 and would be a another downside target.

The price fell below its 38.2% retracement 132.793 after the weaker than expected ISM data. The 100 hour moving average did not slow the decline.

GBPUSD:

The GBPUSD is up testing the high from Friday at 1.24223. The high just reached to 1.24203. THe price has rotated back down to 1.2406 as seller leaned against the high on profit taking/low risk selling. A move above the high would open the door for more upside momentum, but high from December and January come in at 1.2447 and 1.2445 respectively. They too will be key resistance.