US Greenback Speaking Factors:US Greenback Bulls Push in NovemberThe bullish November theme in the US Dollar has continued as DXY
US Greenback Speaking Factors:
US Greenback Bulls Push in November
The bullish November theme in the US Dollar has continued as DXY has pushed proper again right into a zone of key resistance that runs from 98.33-98.50. This was the identical zone that held the yearly highs in April and Could of this 12 months. Patrons had been finally capable of pose a topside break by means of the late-portion of this summer season however bulls had been unable to carry the transfer, main in to the rising wedge formation that was checked out within the Q4 Technical Forecast for the US Dollar. October introduced a powerful theme of weak point that ran for just about everything of the month as USD set a recent two-month-low on the primary buying and selling day of November.
Since then, nonetheless, its been a far completely different situation as consumers have come again to the desk to retrace 50% of final month’s sell-off, with price action discovering resistance on this confluent zone on the DXY chart.
US Greenback Day by day Worth Chart
Chart ready by James Stanley; US Dollar on Tradingview
AUD/USD: Trendline Response, Can Sellers Proceed to Push?
On the long side of the US Dollar, AUD/USD remains compelling. With final month’s USD sell-off, AUD/USD lifted all the best way from an October low under the .6700 degree to a key degree of resistance across the .6900 deal with. As USD-strength has come again in November, that bearish trendline response…