USD moves into neutral phase after CPI miss


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.

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