The dollar ranged lower at first and plunged amid a dovish Fed.
The price broke below 96 and got rebounded off by a demand zone at the bottom of the ascending triangle.
As of now, the price has retested the supply zone at 96.6 and was held below ending the week.
The underlying sentiment of the dollar has definitely turned more bearish but we can expect the price to range lower after every pullback.
For this week, we expect the dollar to fall and retest the bottom of the ascending triangle and probably break a little lower to retest the supply zone below 96.
The price broke below 96 and got rebounded off by a demand zone at the bottom of the ascending triangle.
As of now, the price has retested the supply zone at 96.6 and was held below ending the week.
The underlying sentiment of the dollar has definitely turned more bearish but we can expect the price to range lower after every pullback.
For this week, we expect the dollar to fall and retest the bottom of the ascending triangle and probably break a little lower to retest the supply zone below 96.
