US Dollar: Ascending Parallel Channel

After FOMC released the new interest rate which was higher than the expectations, we saw the immediate impact on US dollar which caused a strong strength on it.

Currently, we can see that price is facing bearish pressure and is moving in an ascending parallel channel and is rising towards the channel’s upper bond.

There is a resistance zone ahead which is also the target for US dollar. I expect a rise around 113.900 which is the last price’s high, and if the bullish pressure remained in force, we can expect an upside breakout on the channel and more rise in the future.