Immediate focus is back on the 101.80, (61.8%) retracement of the 2001-2008 fall, the 102. 05 monthly high of 24 November and 102.15 high of March 2003, but mixed daily studies suggest potential for consolidation beneath here.
In the coming weeks, however, prices are expected to continue higher, as the Tension Indicator, not shown, strengthens and background readings improve, with a close above 102. 05 /15 confirming a multi-month USD rally and opening up the 103.20 year high of January 2003.
An unexpected close below the 99.15 break level will delay gains, and turn investors neutral once again, as congestion around 98.00 then attracts.