The USD advanced to near the 38.2 % retracement derived from the Q4 USD sell-off at 1.3454 Thursday before easing back. USD resistance in the mid-1.34 area is reinforced by the 40-Day Moving Average (1.3442 today).

Choppy trading late last week clouds the very near-term technical outlook for the USD but broader (weekly) signals remain USD-bullish and suggest corrective pressure for a higher USD should be sustained.

Look for support on USD dips to the mid-1.33s and (stronger) at 1.3275/1.3300.

Above 1.3450 targets 1.3538 (50% retracement resistance).