Prices reached first notable support on daily chart 1.3140, steadying just above now.. but not expecting too far for a trend change. lower later I believe.
Anyway,
This move in favour of USD is not normal. These are not the same traders who just sold the greenback a few weeks ago in huge amounts. I believe it's a huge reduction in rate cut exepcations, and market is pricing it right now.
and if the latter is true, are we breaking below 1.30 again?
Question for the forex experts. Waiting a response on this
