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US Dollar Index Sees Buying Interest

US Dollar Index Sees Buying Interest

Thomas Long, Course Instructor

Last week we noted that the US Dollar Index needed to move up through the 80.40 high to change from printing lower highs and lower lows to printing a higher high. This 4-hour chart does show that this market was able to move up through that previous high. While this does not serve as confirmation of a trend change for the USD from down to up, this changes do need to start with moves like this. The next high is to watch is the 81.44 level. A move up through that high makes a stronger case for a stronger USD. We might not see that until after the holidays, but it is something to watch for in the meantime.

US_Dollar_Index_body_74760d1293030572-chart-day-usd.png, US Dollar Index Sees Buying Interest

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