Bears are taking a breather ahead of attack at 2020 low
Bears are taking a breather above new 4 ½ month low at 94.71, posted today.
Consolidation is likely to precede final push towards 2020 low (94.59), as dollar remains under strong pressure.
Negative impact from increase in US jobless claims was offset by better than expected continuing claims, but worsening situation with coronavirus that hurts already weak economy and rising tensions with China, keep negative tone.
Oversold daily techs warn of further delay of attack at 94.59 target, but limited upside action (ideally to be capped by former low (95.68) and falling 10DMA (95.83) is seen for now
Res: 95.13; 95.33; 95.68; 95.83
Sup: 94.71; 94.59; 94.12; 93.85