Markets seem to have decided that maybe the Fed is serious.
And the dollar may move considerably higher going forward.
For some background: recent Fed statements imply they will wind down the easy rates policy put in place since the start of the pandemic.
That policy was instrumental in promoting economic recovery in the US. But recent announcements indicate the Fed will soon taper their bond purchases, leading to rising yields and consequently the rising dollar.
The following are H4 charts of a selection of major FX pairs.
The targeted support and resistance levels are in the latest colored boxes on the respective charts.
Each pair would have to cross their respective colored zones to confirm any meaningful change or extension in trend.
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All displayed chart support/resistance lines are either historical levels or actual confirmed order book levels currently being traded by major players based on available market intelligence.
Disclaimer: This content is for educational purposes only. It does not constitute trading or investment advice. Past performance does not indicate future results. Do not invest more than you can afford to lose.
