The USD continues to rise with fresh upside breakout this morning and the highest trade since November 25th.  Obviously, indications from the federal reserve chairman that recent sharp gains in interest rates are not a concern, would seem to clear the path for even higher US interest rates ahead. In fact, many times markets threatened with intervention or simply anticipating intervention will push to pull out intervention. Money looks to continue to flow toward the USD with a wide range of payroll outcomes this morning, favoring the bull camp. The crossover of the moving averages suggests a developing short-term uptrend. Daily RSI has risen into overbought levels. Resistance comes in around 9195 and 9220, with support coming in at 9125 and 9080.

USD Mar ’21 Daily Chart
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Tony Cholly

Senior Market Strategist
Tony majored in Economics at Eastern Illinois University. He performed his thesis on the market price of corn in the market and the factors that affect it. Tony was drawn to futures trading because of the opportunity to have financial gains in an economic environment. He prides himself on working with customers one-on-one and developing a trading strategy based on the client's needs and wants.
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