US Dollar Index Old Highs Should be Marked for Possible Support
Chart Prepared by Jamie Saettele, CMT
-Recent comments noted that “Monday’s (11/14) close settled above channel resistance, indicating potential for upside acceleration (could be a ‘blow-off’). The importance of the break through resistance is accentuated by the fact that channel resistance (former now) was support earlier this week (on 11/17 dip).” DXY hasn’t disappointed, having traded through the 2015 highs. Former highs at 99.83 and 101.51, along with former channel resistance, should be watched for support.
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