US Dollar Index-Watch 100.40/50 around FOMC
Chart Prepared by Jamie Saettele, CMT
-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.
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