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Bearish view on USD is reinforced after the Fed’s rate decision and press conference

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Bearish view on USD is reinforced after the Fed’s rate decision and press conference

By Scott.Andrews


USD Index 29 04 2021

As mentioned in yesterday’s currency call today’s rate decision was to script with no mention of easing of assets purchasing or any points on raising rates sooner than expected. Earlier in the session the US dollar rose to just above 0.91 but fell quickly through support at 90.81 as shown in the chart. After this announcement my bearish sentiment remains and I will be looking to sell if price can test 90.80 with the stop at 91.00 with a price target of 91.40.

Bearish view on USD is reinforced after the Fed’s rate decision and press conference



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Do you mean that the trend is bearish? If there is resistance to pull back to 90.80, then go short?
FxScotty
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That's correct :)
Raleign
@FxScotty
@FxScotty:cool, thank you
FxScotty
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@Raleign
@Raleign Happy to help good question too 😀

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