DXY Ranging... Can it Break Out??
The US dollar has dipped but found support at 93.82. Support was confirmed by green triangles on the KRI. We are currently back to support at 94.18, but appear to be encountering resistance around this level. This appears to be the upper bound of the current value area, so anticipate a retracement, if the ranging is to continue. The next target is 94.45, if we see a burst of momentum. If support fails at 93.82, then 93.60 will provide further support.
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