Macro Research analyst ersoytoptas breaks down the short term perceptive of the US Dollar. His analysis dates back to the 1Q16 timeframe of a time where a collective effort of central bankers suppressed the US Dollar. The ploy worked as the dollar declined from 99 handle to the low 91 level re-inflating commodities, as well as risk assets. We’ve noticed 2 tidal shifts in the US Dollar as the first turning was in May as the market prepared for a rate hike. The second turning was a post-Brexit vote repositioning into safe havens such as US Dollar, as well as USTs.
DXY %236 Above Moving Unstable progress
Resistance :96.63 / 97.13 / 98.22
Support : sideways down support (RED)