Long-term bullish pattern are getting more strength for USD, after another short-term bullish pattern which it makes this week. USD is not so much overbought zone so it can act on this short-term bullish pattern which can take it towards 84.5 level. It looks to me that USD is in hurry because there was a chance that it may make descending triangle but in the last few days USD has negated that option.
For coming week USD’s initial support is around 82.5 level if it maintains that support then there is a good chance that it may trigger the short-term bullish pattern. In the downside the older levels of 81.50 and then 80.50 (which is its 61.80 retracement level considering 1st May low) are still intact. If USD drops below 80–80.50 then things may not be good for it. In this moment I can say that in technical language, USD will not react with that bullish pattern if it drops below 72.696 but that is beyond our imagination for now.
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