Current price movements are probably part of a consolidation phase of 147.85/148.75. In the long term, the price action indicates that the USD could rise around 149.20, according to FX analysts of UOB Group, to be Leang and Peter Chia.
Current price movements will vary between 147.85/148.75
24 -hour vision: “We expected the USD ‘to advance more’ yesterday, but we highlight that ‘the main resistance in 149.20 is unlikely to be in danger.’ We also point out that ‘there is another level of resistance at 148.90.’ Our vision did not materialize since the USD was negotiated in a range of 148.13/148.80, largely closing without changes in 148.44 (-0.06%).
Vision at 1-3 weeks: “Yesterday (July 29, Spot in 148.55), we highlight that the recent price action ‘indicates that the USD could rise around 149.20.’ Although the USD rose to a maximum of 148.80, it went back to close largely without changes in 148.44 (-0.06%).
Source: Fx Street
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