USD Downside Retracement Resumes

USD Downside Retracement Resumes

2021-09-10 • Updated

4H Chart

1.png

Daily Chart

2.png

The US Dollar Index failed to sustain its recent gains above its 50 DAY MA, the index declined back yesterday with higher trading volume, while all eyes are on the PPI data today after mixed economic releases over the past few days and last week's jobs report. In the meantime, the technical indicators are still suggesting further declines ahead, with a possibility to retest last week's lows round 91.80, while any short position should be attached with a stop loss not to exceed this week's high.

S3

S2

S1

Pivot

R1

R2

R3

91.78

92.16

92.32

92.54

92.70

92.92

93.30

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