US Dollar bears on top and eyes are on a break of 106.00 – by fx_ross DollarIndex Currencies Fed
A break of 106.00 could seal the deal for the bears.
The ebbs and flows of the market see the currency respecting technical structures and targets with the 38.2% Fibonacci retracement level acting as a relatively firm resistance near 107.50/70s.
The W-formation is seeing the price revert into the neckline and towards the 38.2% Fibonacci of the prior bullish impulse. A break of 106 could seal the deal for the bears. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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