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US Dollar Index at Key Zone for 6th Day

US Dollar Index at Key Zone for 6th Day

2017-04-06 21:07:00
Jamie Saettele, CMT, Sr. Technical Strategist
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US Dollar Index at Key Zone for 6th Day

Chart Prepared by Jamie Saettele, CMT

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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 6 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. If this level gives way, then a proposed trendline is near 101.50.

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