EURUSD finds willing sellers at the 100 hour MA

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.