The dollar was somewhat consolidating at the beginning and suddenly it attempted to break new high.
The price went slightly above the previous high at 98.3 but immediately got rejected by strong selling pressure.
This is somewhat quite expected of the dollar whenever it attempts to break a new high.
The situation where the U.S. economy is in surely isn't one that favours a stronger dollar, one that is in the midst of a trade war.
In this week, we do expect the dollar to fall further and test the bottom of its current range at 97 where it will probably just continue to trade within the range.
The price went slightly above the previous high at 98.3 but immediately got rejected by strong selling pressure.
This is somewhat quite expected of the dollar whenever it attempts to break a new high.
The situation where the U.S. economy is in surely isn't one that favours a stronger dollar, one that is in the midst of a trade war.
In this week, we do expect the dollar to fall further and test the bottom of its current range at 97 where it will probably just continue to trade within the range.
