I am not sure, but I'd like to guess that this is the pivot point for the usdollar to go down further. It is hitting the .50 mark from the weekly high/low. Also, it is gradually declining to further trend lines which is a sign of a continued trend. This area has a high probability to push the usdollar down for these reasons.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.