USD Technical Analysis April 9th 2014

The US Dollar had a horrible day yesterday crashing below 0.382 fib support at 10,524, next major fib level is marked by 0.50 fib which has proven to be supportive in the past. It is currently trading around 10,450 with the 0.50 fib coming in at 10,375 With Fed minutes on Wednesday it will be make or break for the USD. Even if the market is not impressed by Fed commentary on Wednesday there may be little reason for continued USD selling unless they mention a change in continued tapering. Also the fact that equities are at all time highs and the trend has somewhat stalled the last few months should be some caution for equity bulls (USD Bears).


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