The market continues to try and find the source of the sudden dollar surge which began in Asia overnight. So far, there has been no smoking gun, just trace evidence like “macro funds” and “stop loss” orders. There is plenty of blood evidence however, but it’s not human. It’s the blood of the greedy dollar bear.
Given the sharp fall overnight, a bit of backing and filling is to be expected today. Moderate support is eyed at 1.4325. A break targets a decline to 1.4175/90. 1.4370/75 is resistance near-term with more solid resistance up at 1.4420.
