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US Dollar Index-Watch 100.40/50 around FOMC

US Dollar Index-Watch 100.40/50 around FOMC

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent DXY comments have focused on the channel that originates from the May low, specifically former channel resistance. Former channel resistance has provided support this week (except for a few seconds below on the ECB spike). The action is bullish and only weakness below the line (near 99.85) would indicate a behavior change and risk of a reversal.

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