Is the USD bear making a comeback? FOMC next Wednesday and doesn't look like Lagarde pushed EUR/USD weakness this morning. Very modulated message. Past three days have been especially visible on the bearish DXY theme. Resistance showed on Monday at the 23.6% Fibonacci of the 2020 major move.
Stocks popping, dollar dropping after the release of the Consumer Price Index (CPI). NDX held on to resistance at 38.2 Fibonacci overnight - pulled b ack now breaking out with aggression ahead of us open. USD giving up support, EUR/USD testing above resistance - ECB tomorrow.