We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • AUSTRALIA PM MORRISON: - Businesses need to judge China risk, but iron ore trading figures reassuring - Reopening the economy over 3-5 years will be more difficult than closing it down, facing "most challenging [economy]...outside of wartime." #AUDUSD
  • (#ASEAN Fundy) The US Dollar could rise against ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data $USDSGD #USD $USDINR - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/05/25/US-Dollar-May-Rise-as-SGD-Falls-on-US-China-Woes-Indian-Rupee-at-Risk.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/BHR1vaN8vO
  • BOJ GOV KURODA: - will consider expanding ETF purchases if needed - monetary easing is needed until price-target is met - will consider new easing measures if needed - BoJ's extraordinary measures wont stay post-coronavirus #USDJPY #BOJ
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 1.44% Oil - US Crude: 1.02% Gold: 0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zbMOhIkpeW
  • As political tensions between the US and China increase, $gld is picking up a safe-haven bid ahead of the long weekend and may look to press higher. Get your $XAUUSD market update from @nickcawley1 here: https://t.co/boUn4vyfCO https://t.co/beDj1yEO0U
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.29% 🇦🇺AUD: 0.28% 🇬🇧GBP: 0.17% 🇪🇺EUR: 0.14% 🇨🇭CHF: 0.12% 🇯🇵JPY: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qj45yOo16T
  • BOJ GOV KURODA: - will consider changing rates of yield curve control if needed - will consider expanding loan programs if needed #USDJPY #BOJ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.43%, while traders in US 500 are at opposite extremes with 78.26%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4TavGtwG3Z
  • Risk-on tone prevailing in APAC trade. #SPX futures up with #AUD and #NZD as #USD, #JPY and #bonds decline. #Gold interestingly up with stocks despite higher yields, weaker US$ may be the driver https://t.co/MJH6iKu3MX
  • China sets #USDCNY daily reference rate at 7.1293 vs 7.1277 yesterday
US Dollar Technical Analysis: Range Support in the Crosshairs

US Dollar Technical Analysis: Range Support in the Crosshairs

2015-02-22 23:58:00
Ilya Spivak, Head Strategist, APAC
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

The Dow Jones FXCM US Dollar Index may have finally started to turn lower as expected following the appearance of a bearish Evening Star candlestick pattern. Near-term support is at 11740, the 14.6% Fibonacci retracement, with a break below that on a daily closing basis exposing the 23.6% level at 11653. Alternatively, a reversal above the 11854-76 zone (14.6% Fib expansion, March 2009 high) opens the door for a challenge of the 23.6% expansion at 11963.

Our long-term fundamental outlook calls for a broadly stronger US Dollar against its major currency counterparts. With that in mind, we are holding long via theMirror Trader US Dollar currency basket.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

US Dollar Technical Analysis: Range Support in the Crosshairs

Daily Chart - Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES

News & Analysis at your fingertips.