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US Dollar Highest Daily Close Since February

US Dollar Highest Daily Close Since February

Jamie Saettele, CMT, Sr. Technical Strategist


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.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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