Dollar mixed in the NY session but stalling
As the stock market has a mini melt down, the dollar is steady.
The EURUSD fell back below its 100 hour MA at 1.2412 (blue line) and dipped toward the 1.23837 area where there are a number of swing levels over the last 4 or days. A move below looks toward 1.23505 (50%).
The GBPUSD moved above a trend line earlier but stalled ahead of the 100 hour MA above (blue line). The underside of the trend line has stalled the fall. The price is closer to the highs of the day. PS the EURGBP weakness is helping the GBPUSD a bit.
Speaking of the EURGBP, that pair fell below its 200 hour MA at 0.8778 and moved down to test the 100 hour MA (blue line) at 0.8763 where it is finding support so far.
The USDJPY moved higher in the NY morning session but has been stalled by the 100 hour MA and trend line. IN the Asia-Pacific session, the price they move about both the trendline and the 100 hour moving average, only to fail and come back lower. The 2nd sniff of the levels has run into sellers against the level. However, the fall is contained so far.
The USDCHF is lower on the day but off the lows despite the run lower in stocks in the NY session. Typically, there is a flight into the safety of the CHF (lower CHF) and there was some of that in the London morning session, but the NY session has seen a bottoming and wander back higher.
The price remains below its trend line and 100 hour MA at 0.9378 area. Stay below, keeps the bears more in control. Move above and there should be more covering. It might take an end of day rally in stocks though.