Wait | 15 April 2021

Technical observation

USD is trading with an increasing bearish bias between the supportive zone 105.15-104.64 and a resistance line 114.80, my expectation is a decline to the supportive zone mentioned above followed by a rejection within it for a momentum to the upper side. In case of a clear breakout above the line 114.80 with a big green candle, you can anticipate a further rally to the upper side after a correction to the just broken line. However, should there be a clear break below the zone 105.15-104.64 with a big red candle; i expect bearish movements of this pair after a retracement to the just broken zone and a bounce within it.

Trade recommendation

Remain flat.