USD is contending with overhead resistance
The above chart shows daily price action. The USD is in a markup phase as per its bullish EMAs. 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. Moreover the RSI(9) is above 50 and indicative of an underlying bullish momentum. However, the USD is contending with overhead resistance as per the red shaded horizontal. The longer the RSI(9) stays above 50, the greater the chance that the USD will overcome this resistance.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.