The dollar bounces back (in most cases, (USDCAD aside))
There’s often no stronger signal than a price making a new day’s high followed by a reversal to then break the day’s low. That’s what we’re seeing in EURUSD right now. We’re still in this 1.20-1.21 range and this move could well see a test of 1.20 soon.
However, in the same way that the high petered out short of yesterday’s high could mean that this fall might start stalling into somewhere around 1.2010/20, and we then find ourselves within a new intraday range. The US data wasn’t a game changer in any way so we shouldn’t really expect the same in the dollar. Let the price action be our guide though.
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