Daily USD (live chart from Investing.com) has broken above the resistance area (which included the MA 50) and is turning it to tentative support.
What will be important to determine is whether or not USD began a new trend when it made a lower high in April. That was followed by a lower low in May. So what Uncle Buck does at the area around the black arrow’s trend line will mean only everything for not only dear old Unc, but also for so many other markets that take their cues from it. A lower high upcoming or a negation of the short-term downtrend? Stay tuned.
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