For almost 12 months now, USD has remained confined within an equilibrium range, not going above the weekly resistance 114.82 or below the support 108.53. While the price is still within this range, I';m only interested in trading reversals, a breakout above or below this range will call for a breakout trading depending on the direction of breakout. Technically a breakout above 118.82 will likely push the price further upwards towards 119.15. while break below will push the price lower towards 102.75. As it is on the weekly chart above, long position looks more ideal towards 114.82.
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