The US Dollar (USD) measured by the US Dollar DXY Index declined as the green currency consolidated Wednesday’s gains and failed to gather momentum on
The US Dollar consolidates Wednesday gains and trades soft against its main rivals. Jobless Claims from the second week of October came in lower than expected. The pace of markets will be set by Chair Powel’s words, who will be on the wires starting 16:00 GMT. better-than-expected Jobless Claims from the second week of October.
The pair has had a strong run higher, with 11 consecutive up-weeks in a row before peaking and forming a bearish doji/shooting star candlestick in the first week of October. This was not followed through to the downside, however, with the following week closing higher. Still it is a warning sign of potential weakness on the horizon. Supports: 106.28 , 106.00, 105.80. Resistances:106.55, 107.00, 107.30.
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