USD moves into neutral phase after CPI miss

Russell Shor, CFTe, MFTA FXCM

The above chart shows daily price action. Following the CPI miss yesterday, the USDOLLAR’s green 5-day EMA has crossed below its orange 13-day EMA (green ellipse). This puts the greenbacks into a neutral phase. The RSI(9) is below 50 and indicative of bearish momentum (blue rectangle). If the greenback drops below 12,104 it will have charted a lower trough. This will be viewed as bearish.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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