Uncle Buck
Back to a much less impressive individual, dear old Uncle Buck.
Stuck in no man’s land (below resistance and above last ditch support) USD wallows around in over sold territory by weekly chart. It can become more over sold however, as the ADX line has not risen above and gained separation from the ‘D-’ line as it has done at previous important bottoms.
Unc could also reverse at any time, ending the speculative parties that have been ongoing throughout its decline. The purpose of this post is simple; USD does not have to reverse here, not yet. But I would think ‘last ditch’ support would be defended hugely by entities pretending to care about austerity in the US.
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