USD got resistance at 79–79.5 level.
Now USD is in over-sold level and I have a feeling that if it has to break 80.5 level then it will try that in early to middle of the week, On the upside if it breaks 80.5 then I will be thinking about 82.
But if it does not follow that then more chance is that USD is going to test lower levels again. Therefore important initial support level is at 79 range. I think still there is an option that USD may drop below 78 and the triggers the bearish pattern. 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 positions the level is 81.
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