US dollar remains under pressure

7 December 2020 | Updated: 7 December 2020

The USD rallied 0.60% in early in late Asian – early European trade before failing to follow through higher and dropped immediately after retesting Wednesday’s open and Thursday’s highs. Fundamentally speaking we are sill very much bearish here and the next ley level is the 90.375 which is the February – March 2018 key resistance level.

Once this level broke back in 2018 the DXY rallied 13.7% for about 2 years so this is quite the level to look for. Should this level break  the next level is the 89.50

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