No greater weakness of the US dollar (USD) is not ruled out; Deep overall conditions suggest that any fall may not reach 150.60. In the long term, the USD’s perspective remains negative; The level to be monitored is 150.00, the FX analysts of UOB Group, to be Leang and Peter Chia point out.
The USD’s perspective remains negative
24 -hour view: “The USD was sold abruptly two days ago. Yesterday, we indicated that ‘despite the conditions of deep over -sales, the weakness has not stabilized.’ We emphasize that the USD ‘could fall more, but given the overall conditions, it might not be able to break the significant support in 151.80.’ The support of 151.80 was tested in the Asian trade yesterday, but it remained. A greater weakness of the USD, the conditions of deep overalls suggest that any fall may not reach 150.60 (the minor support is in 150.00).
View of 1-3 weeks: “We review our USD to negative yesterday (February 6, spot in 152.60), but we noticed that ‘there is a significant level of support in 151.80.’ We did not expect the USD to break the support level so quickly. .
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.
