The US Dollar (USD) will likely continue to rise, possibly reaching 155.45. The main resistance at 156.00 is unlikely to be threatened. Longer term, the increased momentum suggests further USD strength towards 156.00, note UOB Group FX analysts Quek Ser Leang and Lee Sue Ann.
Further USD strength likely towards 156.00
24 HOUR VIEW: “The sharp rise that took the USD to 154.92 was surprising (we expected a range-bound trade). Not surprisingly, the bullish momentum is robust. Today, the USD will likely continue to rise, potentially reaching 155.45 .The main resistance at 156.00 is unlikely to be threatened for now, any pullback will likely remain above 154.00, with minor support at. 154.35.”
1-3 WEEK VIEW: “We indicated two days ago (Nov 11, spot at 152.80), that the recent “bullish momentum has softened.” We expected the USD to trade in a range of 151.30/154, 70. We did not expect momentum to rebuild so quickly as USD rose and broke above 154.70 (high has been 154.92).
Source: Fx Street

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