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US Dollar Highest Daily Close Since February

US Dollar Highest Daily Close Since February

2016-10-27 20:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
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US Dollar Highest Daily Close Since February

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “DXY spiked into the channel today before reversing. The response indicates clear overhead and risk is heightened on the long side.” The new closing high today can be attributed to the USD/SEK surge and modest GBP/USD weakness. Sentiments regarding a high risk situation at the channel remain but there is no reason to suspect that top tick for anything more than a hiccup is in place.

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