Upward momentum is building; if the US Dollar (USD) can break above 144.00, it could trigger a stronger recovery towards 145.50, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
Bulls can push above 144.00 and towards 145.50
24-HOUR VIEW: “We indicated yesterday that USD ‘has potential to test the major resistance at 144.00.’ USD subsequently rose to 143.94, closing at 142.62 ( 0.25%). Slowing momentum, combined with overbought conditions suggests USD is unlikely to rise further. Today, we expect USD to trade in a range of 141.50/143.80.”
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