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US Dollar Index Trendline Holds for 8th Time Since August

US Dollar Index Trendline Holds for 8th Time Since August

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-DXY continues to hold trendline support. Today was the 8th test of the trendline that originates at the 2016 low since August. 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. Until then, respect the range (lower boundary now upper boundary near 101.00).

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

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