Wave Analysis
During the previous trading day, the US Dollar failed to break above 113.25, and has now stated rallying to the lowerside. We expect the rebound from 113.00 to have marked an end to the corrective wave (b) that the current movements to the lowerside is the continuation of the impulsive wave (c) but should not go beyond the immediate supportive trendline. Other than this trendline, then next key level on this chart include 111.50, any clear bounce from this support will attract a long position towards 114.40.
Trade Recommendations:
Resell the US Dollar from 113.00 towards the supportive trendline.
Origin: FreshForex
