The dollar is forming a double bottom on the daily chart and high chance that it could bounce from the current support of 101.993 or slightly below that of 101.300. Once we get the breakout of the descending channel of around 104.3 and the resistance of 105.4 then the next higher target could potentially touch 107.8. Bear in mind this is a daily chart and it might take time to achieve the target.
Сделка активна:
finally dollar made a breakout of the descending channel and if closes above it then we could expect dollar to move higher.
Сделка активна:
The dollar managed to bounce and hit the target that I highlighted earlier 104.5. The next upside target now should be 106.6 and 107.8.