EURUSD, GBPUSD, AUDUSD, NZDUSD move to dollar low levels
The initial reaction to the dollar is to the downside as the Fed removes the word “accomodative” and that is seen as dovish.
The EURUSD hasd moved to a new session high and looks to test the 1.1800-147 area (highs from last week and Monday) . The price has cracked above the 100 hour MA again and that MA is now risk/bias for the longs/bulls. A move back below will take the wind out of the bullish sails.
The GBPUSD has pushed above the 1.3200 level and moves further away from the 100 day MA at 1.32141. The September 19 high comes in at 1.3214 and we are now moving above that level as I type. UPDATE: the price did stall near the 1.3214 level (and a topside trend line on the hourly. The 50% will be eyed at 1.31759 as support now. A move below the yellow area (MA cluster) would not be good for the buyers.
The USDJPY is moving down and toward the 100 hour MA and trend line at 112.70-738 area. Key level.
The NZDUSD moved up to test the high from last Friday at 0.66986. The price stalled just ahead of that level and has since come off a bit. The RBNZ will likely keep rates unchanged at 5 PM. That might limit the pair ahead of that decision and statement.