The below is the daily chart of the USDOLLAR. Further to yesterday’s article, the confirmation of the bullish reference candle never materialised. Rather price reacted off of the overhead resistance area around the 12,270 level. The RSI is still bullish and over 50 (blue rectangle). If it drops below 50 it may be indicative of a shift in momentum. As such, we continue to monitor.
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0