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Dec 01 - 10:55 AM

USD: Technicals: Bullish USD Bias Into 2022 - BofA

By eFXdata  —  Dec 01 - 09:30 AM

Bank of America Global Research discusses the USD technical outlook and maintains a core bullish bias into 2022.

"We hold a long USD bias into 2022 primarily due to the double bottom on the BBDXY that targets 1200/1205 and an uptrend that shows no top yet. Euro is a 32% index weight so downside risk remains possible," BofA notes. 

"USD/CHF formed a diamond bottom pattern and should rally in 1Q22. AUD/$ is on head and shoulders top watch. Gold’s bullish breakout may limit USD upside so on GBP/$ we monitor support at 1.32-1.34," BofA adds. 

Source:
BofA Global Research

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