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US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY

December 15, 2022

Via: DailyFX

Despite a somewhat hawkish tone from Chair Powell during the opening remarks of today’s rate decision, the US Dollar was unable to hold on to an earlier bounce that began after the release of the statement. The Greenback has since pushed down to a fresh five-month-low, riding along the same support trendline that helped to catch the low yesterday.

The 103.82 level remains relevant. Price is testing below that right now, but if today’s daily bar closes above, that could keep the door open for bullish reversal scenarios in the DXY going into rate decisions out of Europe and the UK tomorrow.

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