The Dollar
index has dropped below the 94.00 level and stays around that zone. The
greenback continues felling the effects of the comments by the FED, which have
taken the probabilities of a July hike almost to none. Next month’s chances of
seeing a rate hike have dropped to 30% and may continue dropping. That is what
is keeping the Dollar down and if it continues dropping, then the next support
may be the 92.00 level. In case of a bullish pullback, the Dollar index may try
to go and visit the 95.00 level, but the 96.00 level may act as a better
resistance for the Dollar.
Good point.
ReplyDeleteThank you for the analysis very helpful.
ReplyDeleteThis can be a precursor to a sharp drop.
ReplyDeleteVery useful analysis, I'll keep it in mind.
ReplyDeleteValuable information! Thanks.
ReplyDeleteFresh US data today upliftes slightly the USD.
ReplyDeleteHelpful post, thank you.
ReplyDelete