US Dollar with a strong support around 89.96

US Dollar with a strong support around 89.96

The US Dollar continues to trade slightly above the psychological level of 90.00 and looks forward for a catalyst that drives the greenback to a decisive move. The support zone of 89.96 remains strong as a solid bottom and it should help to make a rebound towards the Fibonacci zone of 50% at 91.12. Around that area, we might expect some pullbacks in order to resume the bearish bias and to test the -23.6% Fibonacci level at 89.41.

RSI indicator remains in the negative territory.





Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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