The dollar is trying to consolidate
The upward index of our pair has weakened and at the moment we are seeing that our pair has consolidated near the level of 1.2385 and moved slightly away from it. Our technical indicators do not yet indicate a sale, although the pair was unable to overcome this level.
Also after yesterday's trading, the dollar index has strengthened and the USD has grown relative to the basket of major currencies. Therefore, moving away from the nearest peak, we expect the pair to fall to the level of 1.2320
Another reason for such an assumption is the investors' overhearing for a rapid increase in the interest rate in the US. Therefore, we are waiting for confirmation of indicators for entry into short positions.
Also after yesterday's trading, the dollar index has strengthened and the USD has grown relative to the basket of major currencies. Therefore, moving away from the nearest peak, we expect the pair to fall to the level of 1.2320
Another reason for such an assumption is the investors' overhearing for a rapid increase in the interest rate in the US. Therefore, we are waiting for confirmation of indicators for entry into short positions.
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