USD ON THE MOVE THIS WEEK
Last week we saw a sell of in the USD as FED Chairman Powell spoke with a less Hawkish tone. This may have spooked the market into thinking a December rate hike could be played down.
If we look to the weekly chart the candlestick finished as a strong bearish close at the key resistance. This gives us the opportunity to potentially see further downside. We have a trendline offering support however if we were to see this break we could see the market head towards that $94.00 support.
If we look to the weekly chart the candlestick finished as a strong bearish close at the key resistance. This gives us the opportunity to potentially see further downside. We have a trendline offering support however if we were to see this break we could see the market head towards that $94.00 support.
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