The dollar performed a large short movement yesterday, losing the support at 1.5. It seems it has found support at1.4909, where the price started to go up last Tuesday. To break the trend, it will have to get over 1.4955, breaking a lower low so it can start trying to change the short trend. If it doesn't make it, the price will keep hitting new intraday lows, with eyes on the trend in place since March. If it decides to break the trend, the 1.481 support is an area of possible upwards rebound. We can see from the daily candles chart how the price unfolded all the impulse, showing a clear downwards pattern.
Join the Discussion