President elect Trump is saying that the Washington Post article on tariffs is wrong and that has led to a quick move to the upside in the USD, a quick move higher in yields (2 YEAR back to unchanged/10 year up 2.5 bps to 4.62%) and a rotation lower in stocks. The major indices are still higher however with the S&P up 33.75 points and the Nasdaq up 171 points).
The question that needs to be answered is "What is wrong with the story?"
EURUSD: The EURUSD has moved from about 1.0411 to 1.03515. Technically, the price has fallen below its 200 hour moving average of 1.0376 and the broken 38.2% retracement 1.0378. That area is now close resistance in the short-term. On the downside, the 100 hour moving average of 1.03418 and swing area down to 1.0332 is now the next he swing target to get to and through to increase the bearish bias.
USDJPY: The USDJPY has moved up to retest the 100/200 hour MAs at 157.158 and 157.318 respectively. Get above those levels would tilt the short-term bias more to the upside. Stay below and the sellers are still holding more control in the short-term.
So far the moving averages are stalling the rise as traders lean against the key barometer for both buyers and sellers.
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This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usd moves higher on trump comment that tariff policy story is wrong was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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