US Dollar Index Re-Test a Success…For Now
Chart Prepared by Jamie Saettele, CMT
-“Weakness below 100.51 (December 2015 high) would suggest a broader reversal. The level is classified as a decision point (make or break level).” I made the case last week in this video that DXY had already reversed but the current level is truly the ‘textbook test’. The ‘textbook test’ but it’s far from ‘all clear’ on the upside. Pay attention to 102 for resistance.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.