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USD Under Threat

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A steady decline in the dollar has accelerated in recent weeks, as a resurgent coronavirus outbreak in the United States and improving economic prospects abroad sour investors on the currency.

The buck is down 8% from its highs of the year against a basket of currencies (=USD) and stands near its lowest level since 2018. Net bets against the dollar in futures markets are approaching their highest level in more than two years

TREND : BULLISH

Time                                      :           23/07/2020

Pivot                                      :           1.1561

Technical View                     :             LONG ABOVE 1.1581

Target                                   :            1.1601, 1.1631, 1.1661, 1.1716

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