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#USD – FED is dovish BUT USD bulls still putting up a fight


There is no doubt that looking across cross-asset class charts, the USD seems primed to weaken BUT we still see USD dips bought up aggressively and no ‘real’ technical damage is long-lasting in the USD. The EURUSD and GBPUSD are still dealing with their own macro issues thus limiting any downside in the USD. We currently prefer the Swissie and commodity currencies as opposed to the EURUSD and GBPUSD in a USD weaker scenario.

1. USD Bulls putting up a fight. USD rallies are deep retracements.

2. USD bears have their work cut out and need to up their game soon