Notice that overall we are still in a very bearish pattern. The chart continues to print lower lows (A) and lower highs (A). All the EMAs are moving lower and the shorter EMAs are below the longer EMAs. However
Are prices printing a double bottom? Notice that the last two bottoms have been near the same level price wise. Also note the MACD printed a rising bottom (A) and the the RSI printed a higher number (B) on the second bottom.
Fundamentally it is difficult to see the dollar making big rise. US interest rates are very low and will be there for some time. Other countries (like Australia) are already raising their rates. While the US economy is growing, so are other regions. And there is little need for a safe haven play right now.
