The dollar was mixed among the major pairs last week as it weakened at first but recovered strongly on the last trading day.
The momentum of a bearish dollar failed to continue on and the price has broken above a 3-month falling trendline.
The price will face a 1-month supply zone immediately and may pull back first before climbing further.
We expect the dollar to recover more losses and rise towards the 3-month supply zone at 98.4.
This will allow further retracement among the major pairs, leading to a better price to short the dollar later.
The momentum of a bearish dollar failed to continue on and the price has broken above a 3-month falling trendline.
The price will face a 1-month supply zone immediately and may pull back first before climbing further.
We expect the dollar to recover more losses and rise towards the 3-month supply zone at 98.4.
This will allow further retracement among the major pairs, leading to a better price to short the dollar later.
