USDOLLAR Short-term Froth Normalises; Underlying Support Compelling
Past performance is not an indicator of future results
The left chart shows the USDOLLAR daily time frame. It is in an area of strength - between the upper blue and upper red bands. We note that the daily RSI is trending toward overbought but is not there yet (green rectangle). The right chart shows the USDOLLAR hourly time frame. The buck reacted off of resistance at the R1 pivot. This coincided with an overbought reading on the hourly RSI (blue rectangle). The reaction pullback off R1 has normalised this froth. The EMAs and stochastic have not triggered bullish yet, but the central pivot (P) is a compelling level as potential support.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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