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US Dollar Index Testing March 2015 Level (MAJOR Level)

US Dollar Index Testing March 2015 Level (MAJOR Level)

2017-03-16 20:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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US Dollar Index Testing March 2015 Level (MAJOR Level)

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…basically unchanged!) for support. A break through one of these levels ideally offers something to work with from a trend perspective.” Decision time as DXY is trading 100.39! A weekly close below the level would suggest that the path is lower.

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

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