Has Pre-FOMC US Dollar Correction Begun?
- EURUSD dips sub-1.0500 before swiftly rebounding above 1.0600.
- See the March forex seasonality report for trends in the QE-era.
The USDOLLAR Index has retraced all of its gains over the past 24-hours in a quick manner, after briefly setting fresh yearly highs against the Euro around the start of the Asian session overnight. The scope of the reversal is seeing the greenback post losses across the board, breaching short-term trend support levels in the process.
Read more: Staying Short Euro in a Fast Trending Market
--- Written by Christopher Vecchio, Currency Strategist
To contact Christopher Vecchio, e-mail email@example.com
Follow him on Twitter at @CVecchioFX
To be added to Christopher’s e-mail distribution list, please fill out this form
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.