US dollar is still alive and clinging to this week’s lows
So it was another nutty market week with the usual downs and ups. Today many markets have reversed down because USD has held up, if you can call holding paper thin support holding up. That would be the touch point at the February 25th low.
If that breaks, the January low will try to offer Uncle Buck some comfort but more likely we’d see a drop to the 88s, which is the first strong (long-term) support area. DXY is clustering multiple daily candles right here while trying to decide if it’s going to bounce and pressure the macro or more likely in my opinion, drop for a test of long-term support. Either way, watch Uncle Buck (and listen to him too; he’s going to tell the macro story).
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