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US Dollar Index Trendline; Can it Finally Break?

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-“DXY held trendline support at the March low and just found resistance from the median line of the 2016 channel. I don’t have a strong opinion on direction right now but the barriers are the January-March line and 2016 trendline. A move on either side of these lines (daily close) ideally ushers in the next directional move.”