The US Dollar is currently between a falling channel formation. As long as the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside. We expect the current move to the upperside to be a mere correction to the upperside and should breakout above 108.320 or even higher. Intraday traders should be waiting for a breakout above the upper trendline to buy the last impulsive wave (c) towards 109.570. A breakout above this level will push the price further to the upperside with the next ideal target being 110.00.
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