<p style=““ class=“text-align-justify“>It’s a brutal day once again for the dollar as it is seen down over 1% against the likes of the euro, pound, aussie and kiwi today. The post-CPI rally in markets is continuing and that is weighing heavily on the dollar once again. EUR/USD has now run up to its 200-day moving average (blue line) and the resistance point will be a key one to watch in gauging if the pair has the appetite for an upside leg extension:</p><p style=““ class=“text-align-justify“>The 200-day moving average rests at 1.0427, so keep an eye on that ahead of the daily close.</p><p style=““ class=“text-align-justify“>Meanwhile, GBP/USD is also surging up by over 1% to fresh highs in seven weeks:</p><p style=““ class=“text-align-justify“>The pair is trading to 1.1870-80 levels now as buyers solidify the break above the 100-day moving average (red line) and key trendline resistance (white line) above 1.1600. A move towards 1.2000 looks more than likely before stalling.</p><p style=““ class=“text-align-justify“>Elsewhere, USD/JPY is down 0.5% to near 139.00 as the <a target=“_blank“ href=“https://www.forexlive.com/news/usdjpy-turns-lower-as-dollar-slips-to-start-the-session-20221115/“ target=“_blank“>downside pressure stays the course</a> while AUD/USD is up to 0.6770 and looking towards extending the upside push above its own 100-day moving average <a target=“_blank“ href=“https://www.forexlive.com/news/audusd-moves-up-to-two-month-highs-amid-dollar-selloff-20221115/“ target=“_blank“>here</a>.</p>

This article was written by Justin Low at forexlive.com.