The US dollar is currently stabilizing within a descending triangle formation and is bouncing back from the horizontal demand area, where the 200-day moving average is offering support and suggesting positive momentum.
At the same time, the Ichimoku Cloud is serving as a resistance level above the price action. To confirm the next movement for the US dollar, we need to watch for a clear breakout or breakdown of the formation.
It's also noteworthy that the US dollar frequently shows an inverse correlation with the cryptocurrency market.#BinanceLaunchpoolHMSTR #EIGENonBinance #BTCReboundsAfterFOMC #US
