Dollar tilting higher in the early US trading | Forexlive

The USD is moving higher in early US trading. Yields are mixed with the 2 year down -1.7 basis points the day at 4.024%. The 10 year is unchanged at 4.509%, and the 30 yeare is up 2 basis points at 4.983%.

The US and China reps are meeting in London with hopes for a handshake agreement that will lead to more rare-earths available to US manufacturers.

US stocks are higher but not moving very far from unchanged. IN premarket trading, the Dow is up 34 points, the Nasdaq is up 15 points, and the S&P is up 7.5 points.

The EURUSD continued its move lower after rising earlier and peaking in the European morning session at 1.1439. The price in the early US session has broken below its 100-hour moving average 1.14094. The 200-hour moving averages is currently at 1.13814 and is the next target on the downside. Moving below that level would increase the bearish bias. On Wednesday and Friday of last week, the price bounced off that moving average level. The price is now unchanged on the day at 1.1394.

The GBPUSD is also moving below the 100-hour MA and is only 0.08% higher on the day now. The 100-hour moving average comes in at 1.35459. On the downside, the 200-hour moving averages at 1.3518 and is the next target that, if broken, would tilt the bias more in favor of the sellers. Last week, the hourly moving averages did s decent job at stalling the falls.

The USDCAD is trying to extend back above the 100-hour MA at 1.36868. That is also near the swing level going back to May 26. Staying above the 100-hour moving average would have traders looking toward high from Friday at 1.37032 ahead of the following 200-hour moving average of 1.37315.