Home Forex News The USD Around 22-Month Low on Thursday – – Holes in Economic...

The USD Around 22-Month Low on Thursday – – Holes in Economic Recovery

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The dollar hovered around 22-month lows on Thursday on further signs the economic recovery in the U.S. could be grinding to a halt in the wake of a resurgence in coronavirus cases nationwide.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.22%, to 94.72. The U.S. is on track for a strong rebound in the third quarter, but signs of rising initial jobless claims and declining footfall at retail stores suggest the recovery has come unstuck.

TREND : BULLISH

Time                                      :           24/07/2020

Pivot                                      :           1.1593

Technical View                     :             LONG ABOVE 1.1613

Target                                   :            1.1633, 1.1661, 1.1685, 1.1738

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