The positive sequence of USD news, the initial reaction from Janet Yellen's comments, consumer confidence and the recent ISM figures should have pushed the USD above the registered high @80.35 basis point. However, its failure to do so remains,as investors' contrarian sentiments on the USD recovery outweighs the reports.
The USD Index DXY Spot, have been really sluggish as it now remains in negative territory below the 80.05 benchmark that whipsaw its way lower as of this writing. The market's behavior based simply on Price Action Analysis (PAA) have justified the prevailing market sentiments from its original trend behavior. Which in fact has been a relative short-lived USD rally that has not sustained its ability to push higher.
Price Action Analysis & Insight
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