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US Dollar Index Channel Center Line and 55 Day Average at Current Level

US Dollar Index Channel Center Line and 55 Day Average at Current Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Recent DXY updates have noted that “the mentioned trendline has held (low was 98.86). The trendline hold is clearly a positive in the very near term. 100.39 (maybe a little higher…like 100.66) is still of interest for resistance.” DXY has been pressing into the noted resistance area for the last 4 days. The level is bolstered by the center of the channel from the 2016 low and 55 day average. If the broader move is lower, it’s probably lower now.

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

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