FX.co ★ Technical analysis of USD and Platinum

USD (#USD):

The graph shows the movement of USD in the 4-hour (H4) chart.

Last Friday (07/08/2022), #USD hit a record high of 107.80, its highest value in over 20 years.

This made the resistance area of 107.80-107.90 a key level of the trend, where a repeated test and breakout will lead to a rise to 110.00-111.00.

Meanwhile, a rebound from 107.80 could trigger two scenarios:

First is a breakdown of 106.50 and further downward movement to 104.00.

The second is a rebound from the support area of 106.70-106.80 to the key resistance level of 107.80.

Platinum (#PLF):

The chart shows the movement of platinum in the daily (D1) chart.

In the next 2-3 days, #PLF quotes will most likely be consolidated inside the marked triangle.

The upper top will be $904.8, which is located in the divergence zone.

The resistance level of $883.5, paired with the indicated top, will determine the price dynamics of platinum.