US dollar moves lower after weaker economic data | Forexlive

The USD is moving lower after the weaker than expected economic data. Richmond had composite index came in at -21 verses -19 last month. The consumer confidence came in at 98.7 versus 105.6 last month and 104.0 estimate.

With the election forthcoming, it might not be that surprising that there is weakness in survey’s from the uncertainty.

Nevertheless the US dollar has moved lower. The EURUSD and the GBPUSD are making new highs. The USDJPY is moving lower. The DXY index is moving back down toward the 100 level (at 100.57 currently at -0.32% on the day. The low last week reached 100.215 before bouncing back toward 101.50.

• EURUSD:The EURUSD has moved outside of the swing area between 1.1131 and 1.1145. Bullish. The next targets come against high prices over the last few trading days The high price yesterday reached 1.1166. The high price of from Friday extended to 1.1181 and the high price from last week reach 1.1188. The price is also moving away from its 100 hour moving average at 1.11378. That level and the low of the swing area at 1.11311 would need to be broken and stay broken to increase the bearish bias (now risk).