US Dollar Index Trendline Holds for 8th Time Since August

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).