The perspective of the US dollar (USD) remains positive; The approach is now in 150.00, the FX analysts of UOB Group, to be Leang and Peter Chia point out.
The USD’s perspective is still positive
24 -hour perspective: “When the USD was in 148.35 in the early Asian trade yesterday, we indicated that ‘price movements are probably part of a consolidation phase.’ ‘ We expected the USD ‘to trade between 147.85 and 148.75.’ Subsequently, the USD fell below 147.85 (minimum of 147.78), then recovered and shot, reaching a maximum of 149.53 in the NY session. 150.00 today.
1-3 weeks perspective: “We became positive about the USD earlier this week. In our most recent narrative on Tuesday (July 29, Spot in 148.55), we highlight that the recent price action” indicates that the USD could rise around 149.20. “Our positive perspective was correct, but we did not expect the USD to reach 149.20 so fast, since it was shot at a maximum of 149.53 yesterday. Positive perspective and now we are focusing on 150.00.
Source: Fx Street
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