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US Dollar Index-100.51 is Next Decision Point

US Dollar Index-100.51 is Next Decision Point

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“As is the case with EUR/USD and USD/CHF, continued failure at trend extremes warrant caution although there is nothing ‘solidly bearish’ to work with just yet. Weakness below 100.51 (December 2015 high) would suggest a broader reversal.” 100.51 is in sight. This is the 2015 high and near the 55 day average, which has been useful as a measure of support and resistance for the last few years (although not precise). I’d classify 100.51 as a decision point (make or break level).

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

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