Remain long | 07 July 2023

Technical observation

USD bounced within the supportive zone 128.11-127.08 and since then it has been trading with an increasing bullish bias, this week the price rallied further to the upper side and I expect it to close bullish. If you are holding bullish position with USD, remain long and pick your profits at the resistance level 151.83. In case of a clear break above 151.83, wait for a pullback and a bounce at it before you continue long with USD, and should there be a rejection at it, remain neutral and wait for a another correction to the zone 128.11-127.08 to buy this pair. On chart above, short positions can only be recommended below the zone 128.11-127.08.

Trade recommendation

Remain long with your take profit at 151.83.