USD Is Bending, But Will It Break?

The elephant in the trading room, Tuesday, was the U.S. dollar.

Note the nearer-term dollar breakdown below a key February-May support line at 98.40. But the real story lies in the weekly USD chart, which shows that the price structure is pressing on a two-year up-trend line, the violation of which could have meaningful consequences for the financial and commodity markets.

4-Hour USD

Weekly USD

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