"The minutes of the latest Federal Reserve meeting were enough to send the dollar down to the weakest levels since November.''
— Jeremy Cook, World First Foreign Exchange (based on investing.com)
Pair's outlook
After falling majorly against the Canadian Dollar the US Dollar has found support in the lower trend line of the long term ascending channel on Thursday. However, by the middle of the day the pair was squeezed in between the support of the trend line at 1.3387 and the resistance of the weekly S1, which is located at the 1.3442 level. If the technical rules persist, the currency pair is set to begin a medium term surge, which should last for a few weeks. For that to occur the weekly S1's resistance needs to be broken first.
Traders' sentiment
SWFX traders are tilted to the bullish side, as 56% of open positions are long. Meanwhile, 55% of trader set up orders are to buy.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | -20% | -30% | -30% | |
| Orders | -20% | -12% | -10% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Buy | Buy | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Neutral | Sell | Sell | |
| ADX (14) | Sell | Neutral | Neutral | |
| CCI (14) | Buy | Neutral | Sell | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Neutral | Buy | Buy | |
| SAR (0.02; 0.2) | Sell | Buy | Buy | |
| Aggregate | → | ↗ | ↗ | |