A forex quick look at the EURUSD, USDJPY, GBPUSD and AUDUSD to start the Asian session

<p>The technicals for the EURUSD, USDJPY and GBPUSD have similar-looking charts in the short term. The price of each are off lows from last week, and above at least the 100-hour MA. The GBPUSD and USDJPY are trading between their 100 and 200-hour MAs. On the topside, the pairs are all below their 38.2% retracement of the recent moves lower. </p><p>So the stories are similar technically. Traders will be listening to the price action in the new trading day and that will determine how the story progresses.</p><p>I also take a technical look at the AUDUSD which saw price action on Monday wander in a narrow up-and-down trading range and also above and below the 100-hour MA. How traders define the winner will be eyed today with the 100-hour MA as the barometer. Moving above with momentum is more bullish. Moving below with momentum will be more bearish. Go with the flow. </p>

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