EURUSD: Flows and thoughts after the 200d MA – FXWW Chatroom

EURUSD has taken out the 200d MA for the first time since June 2014. Our spot trader notes that the next resistance area is 1.1382; this marks a trendline off the May and June highs on the dallies. 
This move has had a decent impact on the rest of FX. USDJPY testing 122.15 and USDCAD< the key 1.3180/1.3200 area. EM stands the most to lose. USDCOP and USDMXN at all-time highs again near 16.9530 and 3125 respectively. 
Flow-wise, all focus is on EURUSD. We saw light demand into the move but now we see rally sellers in the current 1.1340 area. 

View further market information in the FXWW Chatroom with a free trial.

Leave a Reply

Your email address will not be published.