Dollar Rally Tests Resistance as USD/JPY Remains Rangebound
The US dollar has rallied since last Wednesday's rate hike and is now testing above the 100.00 level, with resistance at 100.64.
USD/JPY remains a big driver of USD pairs, but the prospect of reversal seems distant due to the fundamental bias remaining tilted to the long side of the pair.
Pairs like EUR/USD and GBP/USD are along for the ride, testing fresh lower-lows and nearing oversold territory on the daily via RSI.
Gold is also worth watching, as it's been in a strong uptrend since last week's FOMC-fueled swing low of 4235, with support at 4300-4320.