Price rising above short term EMA20/ 40 and as long price keep maintain above EMA20/ 40 , long term MA 50 to 200 continue to trend upwards, currently going towards first resistance at 8.345 .
Price well supported along MA100
Next Resistance -
R1- 8.515
R2- 8.515
Resistance zone- 9.0-9.3
Macro economy outlook
Rising bond yield may be the catalyst for future rising interest hike by the Fed.
Rising oil and foods which drive the inflation higher may prompt the changes in Fed reserve's stands on keeping low interest rate for next few years.
Price well supported along MA100
Next Resistance -
R1- 8.515
R2- 8.515
Resistance zone- 9.0-9.3
Macro economy outlook
Rising bond yield may be the catalyst for future rising interest hike by the Fed.
Rising oil and foods which drive the inflation higher may prompt the changes in Fed reserve's stands on keeping low interest rate for next few years.