It is not time to start talking about tapering
The EURUSD spiked higher as that Fed's Powell said “It it is not time to start talking about tapering”. The EURUSD is now trading above the high from Monday at 1.21164. The high price traded to 1.2125.
GBPUSD: The dollar is also trading lower versus the pound. It has broken out of its 71 PIP trading range seen this week above 1.39286. The high price it just reach 1.39439. The next target comes in at 1.3950.
USDJPY: The USDJPY is trading down to test the swing area between 108.543 and 108.619. The pair has stalled within that level so far. A break below could see more liquidation with the price heading down toward the 108.30 area.
USDCHF has moved down the to retest its 200 day moving average at 0.90884. A move below that level would have traders targeting the 100 day moving average at 0.90583.
USDCAD: The USDCAD continues its run below the March low of 1.23644. The price is trading at the lowest level since early 2018. Stay below that level keeps the sellers more control.