King dollar takes back center stage as Chinese recovery shows vulnerability after COVID-19 cases re-emerged in Beijing over the weekend while equities extend their losses in early trading today in a clear risk-off session. The dollar seems to be the market’s risk haven of choice as the yellow metal trades below our resistance at $1730 and below the 20 and 50 period SMA with $1717.50 and the 200 period SMA as the closest support targets.
Support: 1717.5 / 1708.5
Resistance: 1730 / 1738
