-
Weekly Technical Market Insight: Week Ending 27th May 2022
Snapping a six-week winning streak, the US dollar unearthed a near-full-bodied weekly bearish candle last week and concluded lower by 1.4 per cent. Resistance-turned support from 102.95 welcomed price action at the tail end of the week, following a healthy rejection of the decision point at 105.61-104.87 on 13th May. Territory south of current support unmasks resistance-turned support at 100.92, which is accompanied by a 50-day simple moving average at 100.99 and an ‘acceleration’ trendline support, extended from the low 95.17. Trend studies remain unchanged as we head into the final week of May. Direction has ... (full story)