USD Strength Continues to Surge
Impulsive momentum in the US Dollar (USD) market signals further strength, with analysts predicting a rise above 149.40 in the near future. Quek Ser Leang and Peter Chia from UOB Group FX provide insights into the current market conditions.
24-Hour View
- USD soared to 149.00 in NY trade, closing at 148.71 (+1.22%) on a strong note.
- Impulsive momentum indicates continued USD strength, but overbought conditions suggest 149.40 may be out of reach for today.
- Resistance levels at 149.00 and support at 147.50 and 148.10 are key indicators to watch for maintaining momentum.
1-3 Weeks View
- Previous predictions of USD rising to 148.00 have been surpassed, with the currency reaching 149.00.
- Analysts anticipate USD to break above 149.40 in the coming weeks, with a next resistance level at 150.00.
- Strong support levels at 146.40 and 144.80 are crucial for sustaining the upward momentum in USD.
Analysis
The USD’s continued strength in the market indicates a positive outlook for investors and traders. With impulsive momentum and overbought conditions, we can expect the currency to surpass 149.40 and potentially reach 150.00 in the near future. Support levels at 147.50, 148.10, 146.40, and 144.80 play a significant role in maintaining the currency’s upward trajectory.
For those looking to invest or trade in the USD market, keeping a close watch on these key levels and market indicators will be essential for making informed decisions. The current market conditions suggest a favorable environment for USD strength, with opportunities for growth and profit potential.