US Dollar Index – Channel Line for Resistance is Slightly Higher
Chart Prepared by Jamie Saettele, CMT
-The last updated remarked, “allowing for turn higher here after taking out the December ECB low, risk is for weakness towards the bottom of the channel which lines up with the 200 day average.” The buck has indeed turned up after piercing the December ECB low. If a broader decline is underway, then resistance probably needs to register (again) near the channel line that has been resistance and support since Brexit.
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