Wait | 02 July 2021

Technical observation

For several weeks now USD has been trading with an increasing bullish bias towards the resistance level 114.53, my expectation is a rise to the line I have mentioned above followed by a clear breakout above it with a big green candle. As it is on the chart above, right now remaining neutral is ideal than picking any position. If price breaks above the level 114.53 as I anticipate, wait for a correction to the just broken line and a bounce at it confirming a possible momentum to the upper side before you pick long positions towards the key level 125.70. On the weekly chart above, I can only recommend short positions below the supportive zone 104.74-104.22.

Trade recommendation

Remain flat.