The US dollar has retraced slightly since its breakout over the past few trading days. It has made a run for the upper 93 handle, but still can’t quite seem to break 93.83, the level we are eyeing to break this range held for weeks. In fact, it has seemed to reject these levels, and retraced back to the low 93 handle, where it is currently finding support. This is a significant level. If it breaks, we can anticipate more retracement, perhaps even to the lows established earlier this month. If it catches steam, as we anticipate, it could make a run for 93.83 again.

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