Near-term price action is consolidating within narrow range, just above psychological 100.00 level.
Yesterday’s strong fall (the biggest one-day loss since 03 June), probed briefly below 100.00 support and posted new three-week low at 99.87.
Fresh bears were so far contained just above 99.74 pivot (Fibo 38.2% of post-US elections 95.90/102.11 rally), with corrective action seen preceding renewed attempts lower.
Yesterday’s long red candle heavily weighs on near-term structure for firm break below 100.00 /99.74 triggers that would open way towards next strong support at 99.00 (daily Kijun-sen / 50% retracement.
We expect extended upticks to stay capped under 100.99 (daily Tenkan-sen) and keep near-term bears in play.
Res: 100.37; 100.67; 100.99; 101.06
Sup: 100.00; 99.87; 99.74; 99.00
https://editorial.azureedge.net/miscelaneous/usdix-636166281414311573.png, Market Analysis