USD is rallying around a short term support line 112.19. USD failed to spike upwards even after the bullish continuation candle observed almost 4 days ago. This is a possible bearish dominance indication and while the price is still above 112.19, I choose to remain flat and wait for a breakout below it to pick a low risk short position towards 111.20. As it is on the daily chart above, I can only advice remaining flat and then pick a short position on breaking below 112.19. On the way downwards, the key lines to look for include 111.65, if this lines are broken, then I expect further decline towards 108.41.
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