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US Dollar Index – Need to Re-Test the Broken Trendline?

US Dollar Index – Need to Re-Test the Broken Trendline?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-“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.” The drop below the line indicates a potentially major trend change. If DXY bounces, then pay attention to the underside of the line (99.50s) for resistance.

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

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