Two Factors Driving USD Strength
The US dollar has pushed higher due to fears of a hawkish Fed and inflation. Fears of a rate rise should drive the bull rally. We have pressed higher in the 96 handle, but are facing resistance in the mid 96 handle at 96.56. Immediately after that is another resistance level at 96.65. After that, we have a vacuum zone to 97.03. The price action does appear to be rounding off, so if we see another selloff, 96.24 is the next immediate level of support, but after that we have a vacuum zone down to 95.82.
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