The US dollar initially pulled back during the day on Wednesday but found enough support at the 1.31 level to turn things around and rally. We broke above
The US dollar initially pulled back during the day on Wednesday but found enough support at the 1.31 level to turn things around and rally. We broke above the 1.32 level during the day, and if we can break above the top of the range for the Wednesday session, I believe that this market continues to go higher. Remember, oil is highly influential when it comes to this pair, so if it continues to go lower, this pair should continue to go higher. Volatility is the norm, but given enough time I believe the buyers come back.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
