The US dollar index is currently trapped within the 200 & 800 EMA (96.40-96.80) area. There is a lot of selling pressure around the 96.80 are as the pair tried several times to break that are athe past week but it failed. Its currently trading below the 200 ema, if it succeed to break below the 96.40 area the bullish trend will end but if not it may retest again the 97.70 area.
Fundamentals are expecting the dollar index to drop further as China-US trade agreement it may take longer than expected”Meanwhile, however, U.S. Treasury Secretary Steven Mnuchin, speaking to reporters after his Senate testimony in front of a finance committee, saying “there’s still a lot of work to do.”
Also optimism on a Brexit deal could drive the dollar to lower.
Expectations may change according to the upcoming FOCM statement on Wednesday!
Fundamentals are expecting the dollar index to drop further as China-US trade agreement it may take longer than expected”Meanwhile, however, U.S. Treasury Secretary Steven Mnuchin, speaking to reporters after his Senate testimony in front of a finance committee, saying “there’s still a lot of work to do.”
Also optimism on a Brexit deal could drive the dollar to lower.
Expectations may change according to the upcoming FOCM statement on Wednesday!