US Dollar Index is Dazed and Confused
Chart Prepared by Jamie Saettele, CMT
-DXY continues to trade on parallels that are defined by the 2016 support line (from the May low). There is talk of a possible head and shoulders top, which would confirm on a drop under the February low. Even then, trendline support would register near 98.00 with the 200 day average. 99.80 should still be watched for support in the interim.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.