USD Update

Critical to so much else in the market the good ole USD is looking particularly stable and directionless longer term, slightly weaker medium and shorter term.

The above 5 year chart reveals only 6 months spent in a trend, unless sideways can be considered a trend.

More recently the USD can be described as nearing the bottom of it's range, with support yet to be proven certainly.
I can find Fibonacci relationships between the swings within the range, but frankly, all that is subject to revision in a structure like this, until it is pretty definatively complete.

6 Mo

click to enlarge
The move up over the last 2 days will have to break 95 for starters, with 96.50 looking a lot more convincing.

Very short term it has to hold 94.42



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