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<p>In the morning forex technical report from Greg Michalowski, the markets are seeing some consolidation in most of the pairs into the US session. </p><p>The <a href="https://www.forexlive.com/terms/e/eur-usd/" target="_blank" id="a68cd323-8af1-4ecb-a8dd-0aa83e90da63_1" class="terms__main-term">EURUSD</a> is battling around its 100 hour MA with the 38.2% holding support earlier this week on the downside and the 200 day MA looming above as a key resistance level that was broken this week, but could not sustain momentum.</p><p>The <a href="https://www.forexlive.com/terms/u/usd-jpy/" target="_blank" id="54ffc0de-9a7c-4a70-9e2e-73d5d9b2bfee_1" class="terms__secondary-term">USDJPY</a> is trading in a narrow trading range with buyers trying to hold support against its 100 hour MA in trading today. That level will be a barometer in the short term for the pair.</p><p>The GBPUSD found support yesterday vs the 38.2% of the last leg lower and bounced higher today. Although the price has traded above and below a swing area between 1.1865 and 1.1900, I still think it is a barometer for buyers and sellers for now. </p><p>The USDCAD trades between the 100 and 200 hour MAs and is awaiting the next shove.</p><p>The NZDUSD is the strongest of the major currencies and is trading to a new session high in early US trading.  </p>

                This article was written by Greg Michalowski at forexlive.com.