USDx Breaks Primary R1
Earlier reports for the week with a positive US Retail Sales sustained the USD while adding fuel from the negative data coming from the Euro zone has fueled the rise for the USD to continue reaching relatively a high for the USDx @84.09 basis point. Bullish sentiments still prevail the market while the Dow and SP500 has continued to make newer highs registering the strength of market activity with investors looking for mild setbacks within a bullish trend.
The start of the week's trading have provided a softer yet gradual decline for the EURUSD before the German GDP data came out and currently working @1.2972 from a registered low @1.2942 to this writing. However, as most analyst have been watching price action across the board touching their respective support levels while waiting for a technical break lower for most majors. While maintaining a watchful eye on the USDJPY nearing its resistance level of around the 103.30; most traders were reluctant to establish any fresh new positions as probable risk on exist as prices continue to move higher.
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