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USD extends to new lows as London/Europe exits for the day

As US yields hit new lows on the day, the US dollar hits new lows against major currencies:

  • EURUSD: EURUSD looks to test May high at 1.08944. The high price reached 1.0890. Closing risk now is a break below 1.0875, which is the swing zone low on the chart below.
  • GBPUSD: GBPUSD extended to a new session high and in doing so is testing the low of a swing zone between 1.2793 and 1.2802.
  • USDJPY: USDJPY has moved below the 38.2% retracement of the May 16 move, the high price reached on May 29. The level stands at 156.13. The low price reached a modest target at 155.954.

This article was written by Greg Michalowski at www.forexlive.com.

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