The pair moved down pleasant yesterday, since the tone of the US dollar (USD) remained soft, the White House remained relatively quiet in terms of tariffs and the shares won a little more land, giving a broader impulse to the high beta currencies. The USD is now ‘only’ a standard deviation above the FV (1,4119 today), having spent most of last week negotiating about two standard deviations above balance, says Shaun Osborne, head of Strategy of FX of Scotiabank.
The resistance is in 1,4310 and 1,4350
“The thrust below the support of 1,4340/50 leaves the USD prone to a more technically driven weakness. The losses are stabilizing around point 1.43, just where there is currently the long -term trend support of the minimum of the USD of September.”
“A daily closure below 1.43 points to a thrust towards 1,4240, the minimum of early March and potentially to the 1.41 area (the 50% setback of the September/February USD rally is located at 1,4107). However, the USD continues to enjoy a solid impulse of trend in daily and weekly studies that restrict the losses of the USD for now. 1,4310 and 1,4350. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
