The ECB cut rates by 25 basis points as expected. The US data dump at 8:30 AM ET was stronger than expected with retail sales, Philadelphia Fed manufacturing, and initial jobless claims all better than expected.
In this video take a look at the three major currency pairs from a technical perspective.
EURUSD is bearish below the 200 day MA at 1.0872.USDJPY is trading to a new high and now sets 149.36 as solid support if the buyers are to continue the push higherGBPUSD has the 1.3000 level as the key short term barometer for buyers and sellers today.
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This article was written by Greg Michalowski at www.forexlive.com.
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