US DOLLAR UPDATE4H demand zone was reached, and price initially reacted strongly with a bullish close. However, buyers lacked momentum, and with fundamentals like Friday’s UoM data coming in lower than forecast, confidence in the economy weakened, leading to a drop.
From a technical standpoint, price will seek lower demand, but for shorts to be confirmed, the invalidation point must be broken, not just spiked. Let’s wait and see how the market unfolds.
Blessings,
T