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US Dollar Index Higher Highs Contending with 2016 Channel Again

US Dollar Index Higher Highs Contending with 2016 Channel Again

2017-03-07 18:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
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US Dollar Index Higher Highs Contending with 2016 Channel Again

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-DXY continues to trade on parallels that are defined by the 2016 support line (from the May low). The yearly opening price is 102.38 and could influence for a reaction. I’d also pay attention to 100.39 (March 2015 high…here we are 2 years later by the way at the same level!) for support. A break through one of these levels ideally offers something to work with from a trend perspective.

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