Past week I was talking about 81.70 level for USD, as such it is getting resistance there. It is good to see that it has break out from the wedge which I talked in past.
Last few days it came down from its highs so I will not surprise if it comes down to test 80.5 level in early to middle of the coming week and if it breaks that then it may test level below 80. But frankly speaking, right now it does not look like that USD is going to drop more.
USD is not in heavily over-bought zone so in the early days it may move in the upside. But if it drops in the early to middle of the coming week then it has a chance to test higher levels in later part. At past, 81.70 has acted as a good resistance and now also USD is facing hard times to cross this level. So in the upside I will put emphasis on that level.
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