Following a test of the 6.54 mark, the Greenback initiated a new wave down—a move was disrupted by the 55-hour . Given that the pair remains testing this line for several hours, it might be finally breached within this session. A subsequent fall, however, should be stopped by the 100– and 200-hour SMAs and the 23.60% Fibo retracement near 6.5050.
The steepness of the senior channel suggests that it could be breached during the next week. A surge might follow, thus setting the 6.55 area as a near-term target and 6.57—for a longer term.
Check out our trading platform: