FXWW News/Open/Wrap

USD selling picking up pace

  • Chinese ratings agency Dagong downgrades the US;
  • USD/CHF triggers stops below .9060 and is testing technical support near .9045;
  • USD/JPY down 100 pips from this morning’s levels;
  • EUR/USD sees huge pick up in volume with real money buyers leading the way;
  • AUD/USD is testing barrier protection ahead of .9600;
  • USD remains a sell-rally proposition so be patient and pick your levels.
  1. Long term I’m bullish Muneer but we could see much lower levels first depending on what happens in USD/JPY. If big longs squeezed then all crosses will fall first

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