The slide of the the US dollar just turned into a crash. The weak retail sales number lit a big fire. However, after hitting deep lows, we also see a big bounce.
The moves have become wild and volatility is very exciting.
- EUR/USD screamed through 1.28 and hit 1.2880 before retreating. It broke resistance at 1.2860 on the way.
- GBP/USD topped 1.60. Other currencies see very sharp moves.
- USD/JPY quickly lost the 106 level and reached 105.20 before bouncing back.
- USD/CAD is back down under the previous 2014 high of 1.1280 at 1.1270. It already hit 1.1225.
- AUD/’USD went all the way to 0.8860, below resistance at 0.89 and is sliding.
- NZD/USD almost touched 0.80 and is now battling the 0.7920 line.
-Here are the levels to watch we posted just before the flash crash
Is the USD still overbought?
