The EURUSD moved higher to test the 100 hour MA, but did find willing sellers.
The flash PMI was weaker but the inflation data was higher with S&P Global saying, the “prices charged for goods and services are both rising at the fastest rate support six months”.
The US yields have moved higher with the 2-year now up 4 bps. The 10 year is up 4.6 basis points.
Technically, the 200-hour moving average of 1.11058 will be a target support on the downside.
The USDJPY has moved higher and looks towerd the 61.8% of the September trading ranged at 144.286. Above that and the 50% midpoint of the USDJPY trading range since the January 2023 low comes in at 144.581.
This article was written by Greg Michalowski at www.forexlive.com.
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