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.

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