According to the Fed's representative Bullard the Fed did not think about the further rates raising in January. At the same time, he believes the interest rate remains challenging despite the Fed's policy normalization. The dollar is very sensitive to the national policy now.
The first support resides at 0.9960, the next is at 0.9850. The first resistance stands at 1.0100, the next one is at 1.0190.
The indicator shows a weak and confirmed buy signal. The price is above the Cloud and in above the Chincou-span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement forming a “Dead Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a neutral territory. The price is growing.
We advise to short with the first target – 0.9960. When the pair consolidates below the first target, we can open deals to the level of 0.9850.