![]() Orbex Global Limited is authorized and regulated by Mauritius Financial Services Commission “FSC” (View License). Orbex Group Limited is the holding company of Orbex Global Limited, Orbex Limited is an affiliate with Orbex Global Limited. Test your strategy on how the USD will fare with Orbex Its breach could lead to a bearish continuation in the medium-term. The lower band of the December consolidation range around 3800 is the next support where the bulls might try to hold it together. Then a break below the daily support of 3935 came in as a confirmation, invalidating the latest rebound and turning it into a fresh resistance. A bearish MA cross on the daily chart suggests that the mood has remained cautious. The S&P 500 whipsaws as investors struggle to find reassurance in US authorities’ emergency measures. 0.8850 is the first hurdle and only a close above 0.8890 would turn sentiment around. Otherwise, a fall below the daily support of 0.8760 may cause a bearish reversal. The demand zone around 0.8790 at the origin of the March breakout rally is a major level to keep the directional bias up. On the hourly chart, a break below 0.8825 continues to put intraday bulls on the defensive. From the daily chart’s perspective, the pair is still inching up despite a choppy path. The euro fell as the bloc’s bond yields tumbled in fear of a financial crisis. ![]() ![]() On the upside, 134.70 has turned into a fresh resistance. Failing that, 131.00 could be in the bears’ crosshairs. 132.50 is the next level to see if buyers would make a comeback. A subsequent break below 135.60 triggered a wave of sell-off and a combination of profit-taking and fresh selling compounds the amplitude of the liquidation. December’s highs around 138.00 have proven to be a tough hurdle to lift. The US dollar grinds lower as efforts to avert a banking crisis after the collapse of SVB cut short rate hike expectations. ![]()
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