From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley
Last week, we highlighted the USD testing a critical level against the Rand. This is a theme we’ve been seeing a lot in a variety of USD crosses recently and will discuss more in a post later this week.
We’re finally beginning to see some resolutions from these key levels, and they’re revealing some very valuable information regarding the Dollar’s strength and the likely future direction for the $DXY Index itself.
In this post, we’ll take a look at some examples of this theme by showcasing two forex pairs from Northern Europe that are currently breaking down at major inflection points against the USD.
But before diving in, let’s set the stage a bit…