Creativity comes from trust. Trust your instincts. And never hope more than you work. ~ Rita Mae Brown
Good morning. The dollar found support at 82 and bounced back to 82.60, while the euro lost ground after touching resistance at $1.2620.
1300 was breached easily and now it’s time to keep an eye on it, again, but this time providing support
Resistance at 1.2600/20 is intact after yesterday’s test and euro pulled back to 1.2480 earlier today.
As seen in the hourly and 4hrs charts below, 1.2430 is where first important intraday support resides
1.0220 provided a stable support and the buck bounced back, retesting resistance zone near the rising trendline that it breached two days ago. I think there’s some more selling to expect in this region
Not much to add here (see EURUSD and DXY)
It was a nice breakout two days ago and such corrections are very common, when former resistance is tested “from the other side”
Bears are back in control as the breach of resistance zone highlighted below was short-lived
have a great weekend