(4 votes)

Last Updated Date: 30 July 2021 @ 6:05 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar was up on Friday morning in Asia but remained near a one-month low. The U.S. Federal Reserve maintained a dovish stance in its latest policy decision, and disappointing U.S. economic data also curbed the U.S. currency’s month-long rally.

The market continues to extend a bottoming turn and should foster rallies to push against a previous congestion high at 1.1920. Posting a close over 1.1920 signals for a larger emerging bull drive to 1.1975. We may again see minor corrective dips into last week’s upswing, but narrow congestion days holding 1.1850 will bull flag. Only a close under 1.1806 (SAR) rekindles bear trend forces.

Resistance 2       1.1920
Resistance 1       1.1900

Support 1            1.1861
Support 2            1.1841


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