The US Dollar breaks with the previous 3 week lows

The US Dollar breaks with the previous 3 week lows

The US dollar just broke with the previous 3 week lows (yellow line) to retest the 92.00 level in the European trade session.

 

The US Dollar bearish pressure is still heavy at these levels but the true make it or break it level is the 91.75 which is the September 20th lows and the lows of the entire move down since the Federal Reserve started this new round of Quantitative Easing back in March to face the Coronavirus Pandemic lockdown repercussions.

The overall structure still stands and Wednesday’s FOMC minutes could bring even more bears into this markets should the overall sentiment comes out really dovish again.

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Author : Orlando Gutierrez

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