• Currency markets head into the WMR fix with the USD at the best levels of the session, helping both GBP/USD and EUR/USD show below yesterday's post-CPI lows.
  • This weakness accelerates on the break of support at 1.2519 in GBP/USD, marking the bear trigger and early February lows - and exposes 1.2465, the 50.0% retracement of the Oct 4 - Mar 8 bull leg as the next downside level.
  • EUR/USD testing the 1.07 handle at typing - and a break below opens the equivalent level for the pair at 1.0695, the Feb 14 low and bear trigger.
  • Volumes are firm, with the US PPI release aiding another bumper session of activity: EUR futures have traded ~40% above average cumulative volumes for this time of day.

USD: Greenback Firms on Heavy Volumes, GBP/USD Through Bear Trigger

Last updated at:Apr-11 14:51By: Edward Hardy
  • Currency markets head into the WMR fix with the USD at the best levels of the session, helping both GBP/USD and EUR/USD show below yesterday's post-CPI lows.
  • This weakness accelerates on the break of support at 1.2519 in GBP/USD, marking the bear trigger and early February lows - and exposes 1.2465, the 50.0% retracement of the Oct 4 - Mar 8 bull leg as the next downside level.
  • EUR/USD testing the 1.07 handle at typing - and a break below opens the equivalent level for the pair at 1.0695, the Feb 14 low and bear trigger.
  • Volumes are firm, with the US PPI release aiding another bumper session of activity: EUR futures have traded ~40% above average cumulative volumes for this time of day.

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