USD moves lower and takes the early lead as the weakest currency ...Middle East

It is early in the day, but the USD is moving lower versus all the major currency pairs. The declines are the most versus the NZD and AUD with declines of -0.50% and -0.42% respectively. Some technical highlights for the major currency pairs:EURUSD: The EURUSD is moving above its 100 hour moving average 1.0577 and now looks toward the 200 hour moving average of 1.05866. Move above both as moving averages would tilt the bias back to the upside technically. Above that and traders will look toward the broken 38.2% retracement of the October range at 1.0599. USDJPY: The USDJPY is below the highs from last Thursday at 150.774 and is testing the 38.2% retracement of the move up from Monday's low

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