Previously, USD rose above the short term resistance zone 111.60-111.38but immediately dived below it again. On the 4 hour chart above, this is a possible false breakoutand unless there's a clean breakout and a clean retracement to this zone, I expect the price to plunge down to 109.72. My advice, unless there's a clear bullish breach above the zone marked above, you should consider a short position with SL above the previous day's highest high 111.77 and TP at 109.18.
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