Seeing some dollar buying all of the sudden
The dollar has reversed back higher in the last 30 minutes of trading.
The EURUSD is back down testing the trend line on the 5 minute chart. The 100 bar MA on the same chart has been broken, but the trend line continues to hold the support.
The GBPUSD has moved down to test its 100 bar MA on the 5 minute at 1.30904 but is finding some support as well. It will take a move below to swing more of the bias back to the downside.
There is no news I can see that has led to the quick rise in the greenback.
This article was originally published by Forexlive.com. Read the original article here.