USD falls through support


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.

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