I was sure that if USD able to stay above level 79 in the early days of the week then it may reverse its position, but it moves were less in the later part of the week.
USD’s move in last day of the week was encouraging; it reflects that things may change in coming days. Here I must tell that some technical indicators are saying that USD is in little oversold position. Therefore the level that needs to look is 80.50 level, if it crosses that then I will talk about 82.
But if things do not improve in coming days then I have to think about the negative one which I said during last few weeks, that is USD may drop below 78 and the triggers the bearish pattern. Recent political events also support that move. This negative pattern can take USD around 75 level.
So again I want to repeat that 78–82 becomes an important zone for it. I think person who has created long positions, for them 77–77.5 is the important level and for short position the level is 81.
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