USD falls through support

USDollar

The above chart shows daily price action. The USDOLLAR’s EMAs are in bullish formation. The green 5-day EMA > the orange 13-day EMA > the black 34-day EMA. The RSI(9) is below the 50 level and may be leading the greenback into a congestion phase (blue rectangle). The USDOLLAR fell through support and is now challenging the black 34-day EMA.

A break through the black 34-day EMA will be regarded as further bearishness. If this happens, it is likely that the green 5-day EMA crosses below the orange 13-day EMA, which will be indicative of a neutral/congestion phase.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.