Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
US Dollar Technical Analysis: Prices Drop Most in 3 Months

US Dollar Technical Analysis: Prices Drop Most in 3 Months

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

The Dow Jones FXCM US Dollar Index turned sharply lower, producing the largest decline in close to three months. A daily close below the 23.6% Fibonacci retracement at 11918 exposes the 38.2% level at 11841. Alternatively, a move above the 14.6% Fib at 11966 clears the way for a test of the June 1 high at 12043.

We remain broadly bullish on the US Dollar against its leading counterparts in line with our long-term fundamental outlook. As such, we remain long via the Mirror Trader US Dollar currency basket.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

Daily Chart - Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES