US Dollar Index Channel Center Line and 55 Day Average at Current Level
Chart Prepared by Jamie Saettele, CMT
-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.
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