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US Dollar Index First Test for Bulls Since February Low

US Dollar Index First Test for Bulls Since February Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “the buck has 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.” The mentioned channel was reached today. This is the first test for bulls since the low was registered on the second day of the month. The 55 day average is up here too.

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

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