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Job Openings at Highest Level since Jan. 2001; USD Reaction

The Bureau of Labor Statistics reported the there were 4.8 million job openings on the last business day in August, the highest rate since January 2001. There has been a positive trend in this data point, and it has accelerated since Q2 2014.

(click to enlarge; source:

You can get more details of the report here: JOLTS News Release

The currency market reacted by holding off further USD-losses. The USDX shows that price has reversed last Friday's NFP-boost. Then the index started ranging from 85.65-86.10. The JOLTS report helped the USDX hold above that 85.65 low. 

A break above 86.10 will be needed to revive a bullish bias. Otherwise, there is still downside pressure toward the 85.45 low on the month. We can also see that the 85.50 represents some common lows going back a few weeks

(USDX 1H Chart 10/7) 

If price reaches that 85.50 area, a rising trendline from August might come in play, as seen in the 4H chart. A break below 85.45 therefore can signal a price top and at least a short-term reversal against USD-strength.

(USDX Daily Chart 10/7)