Dollar edges higher
As the London 4 PM fixing approaches (11 AM ET), the USD is making new highs verse the GBP, CHF and NZD in the last few minutes.
The dollar the strongest of the major currencies today.
The USDCHF traded up to a high price of 0.9236 and moves closer to the high price from yesterday (and highest level since July 8) at 0.92416.
The GBPUSD moved briefly below its 38.2% retracement of the move up from the July 20 at 1.38255. The low price reached 1.38218, but has bounced back to 1.3827 currently. Earlier, the price fell below its 100 hour moving average at 1.38552 and stay below that level over the last 4/5 hours of trading.
The NZDUSD fell below its 100 hour moving average at 0.7011 earlier in the North American session and has extended the downside to 0.6997. Stay below the 100 hour moving average keeps the sellers more control.
This article was originally published by Forexlive.com. Read the original article here.