USD bounces off of S2 support
The left chart shows USD daily price action. As can be seen it is in mark-up phase. This is characterised by a bullish EMA formation. I.e. the green 5-day EMA is above the orange 13-day EMA, and the orange 13-day EMA is above the black 34-day EMA.
The right chart shows hourly price action. Price found support at a key level with a confluence of factors including, S2 pivot support; 50% Fibonacci retracement support, price support (green rectangle); and an oversold stochastic (green ellipse).
The US 10-Yr treasury continues higher at 3.11% currently. This has increased demand for the USD which bounced at the pullback off of support.
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