If USD does not make a low on this level (Evidenced by strong and clear uptrend action from next week onwards) I think we're probably seeing a big breaking of the USD uptrend of 2022.
I think the triggering of this break would put us into a strong USD bear market for at least the next 5% or so of price moves in USD crosses. A break will be made, perhaps some sort of shallow rally or range to serve as a bull trap but then into the next leg down we see strong selling. In this style of move, I'd not expect to see any important supports until at least the mid 90s in the USD.
Would produce strong uptrends in the XXXUSD majors over the coming months.
Note: If this short analysis fails, it will probably fail spectacularly. This will be about the low and nothing notable bearish will happen for a long time. This is a decision level. As such, if shorting USD around here it's very important to not be stubborn if price breaks against you. Tight stops are good stops, IMO. Usually you'll find in these situations if your tight stops are hitting - all your stops are hitting sooner or later.
I think the triggering of this break would put us into a strong USD bear market for at least the next 5% or so of price moves in USD crosses. A break will be made, perhaps some sort of shallow rally or range to serve as a bull trap but then into the next leg down we see strong selling. In this style of move, I'd not expect to see any important supports until at least the mid 90s in the USD.
Would produce strong uptrends in the XXXUSD majors over the coming months.
Note: If this short analysis fails, it will probably fail spectacularly. This will be about the low and nothing notable bearish will happen for a long time. This is a decision level. As such, if shorting USD around here it's very important to not be stubborn if price breaks against you. Tight stops are good stops, IMO. Usually you'll find in these situations if your tight stops are hitting - all your stops are hitting sooner or later.