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

August 9, 2022

Via: DailyFX

The US Dollar continues to consolidate ahead of tomorrow’s CPI report.

Last week saw a bounce in the US Dollar from a key spot of support, and that was pushed-along by a series of comments from Fed-speakers, all of which seemed to take on a hawkish tone. Last Tuesday’s bar finished as a bullish engulfing candlestick after a test of support around the 105.00 handle, and the move continued through early-Wednesday trade, for an eventual show of resistance at the 106.82 level.

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