The USD moved higher but is retracing some of the moves after the US jobs report which came in with the month revisions last month, about expectations. This month rose 177K vs 130K (+47K), but the prior month was revised to 185K from 228K (-43K).
EURUSD: The EURUSD moved to a low of 1.1303 which briefly traded below lows from last week at 1.13072. However, the price is trading back higher and trades at 1.1330 currently. The high today stallled at the 100 hour moving average near 1.13516 currently . Support 1.1307. Resistance 1.13516 now
USDJPY: The USDJPY moved up to 144.95, but is back down trading at 144.55 currently. There is a swing area between 144.45 and 144.55 that if broken would have traders looking toward the broken 38.2% retracement of the move down from the March 27 high. That level comes in at 144.208.
GBPUSD: The GBPUSD initially moved lower, but found buyers near the low from yesterday and the low for the week at 1.32594. The low price reached 1.3260. The next target on the top side comes in at 1.32922 followed by the high for the day near 1.3320 and the 200 hour moving average of 1.3330.
USDCAD: The USDCAD moved higher but found a willing seller’s between the 200 hour moving average of 1.3842 and the 100 hour moving average of 1.32295. The high price reached and 1.32378 before rotating back to the downside. If the price is going higher it needs to get and stay above those moving averages. On the downside, the low of the red box consolidation area comes in at 1.3781. On Wednesday, the price moved below that level to a low of 1.3769 but could not sustain momentum and reestablished support against the prior low at 1.3781 before moving higher during yesterday’s trade.
Looking at US stocks in premarket trading:
- Dow industrial average up 438 points
- S&P index up 64.61 points
- NASDAQ up 214 points
In the US debt market yields are higher:
- 2 year yield 3.770%, +6.9 basis points
- 5 year yield 3.880%, +6.7 basis points
- 10 year yield 4.283%, +5.2 basis points
- 30 year yield 4.779%, +4.4 basis points
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