The US yields are still on the rise so we see USD strong, but not that much vs commodity currencies. Looking at the 10 year US notes bearish pattern, we see room for more weakness which may allow DXY to retest the 100 mark still. If you are playing any USD longs, then we think best choice can still be the EURUSD.
EURUSD is coming down, trying to break below the channels support line which is another indication for an ongoing downtrend, especially as recovery from March 07 unfolded with a corrective look. As such, be aware of more weaknes in the sessions ahead.
EUR/USD 1h Elliott Wave analysis
