The dollar has ended 2020 with a yearly loss of more than 7%, and more than 12% from last year March the highest near 103.
Last week, the dollar continued to fall and break new low but managed to recover and close just next to the week's opening price.
One fact for sure is that the dollar is too weak to perform another bearish trend that's significant enough.
In fact, the rebound came after it found support at a broken falling trendline as seen in the H4 chart.
While we do not expect the dollar to be strong, a rebound is almost inevitable.
We can start to buy the dollar and aim for a range high, probably somewhere nearer to 92 first.
Last week, the dollar continued to fall and break new low but managed to recover and close just next to the week's opening price.
One fact for sure is that the dollar is too weak to perform another bearish trend that's significant enough.
In fact, the rebound came after it found support at a broken falling trendline as seen in the H4 chart.
While we do not expect the dollar to be strong, a rebound is almost inevitable.
We can start to buy the dollar and aim for a range high, probably somewhere nearer to 92 first.
