EURUSD spikes higher and toward 100 day MA

The EURUSD is moving to a new session hi and extends above a swing area up to 1.08067 in the process. The next target comes against the falling 100-day moving average at 1.0825. The 61.8% of the move down from the March high comes in at 1.08354.

The U.S. debt yields are now trading lower with the 10 year down -2.4 basis points at 4.457% and near session lows. The 2-year is down -3.2 basis points at 4.825%.

US PPI showed a greater than expected 0.5% gain for the month vs 0.2% expected, but the prior month was revised to -0.1% from 0.2% offsetting the current month’s rise..

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