themarketzone

Dollar index will probably re-test 200 days MA before FOMC

TVC:DXY   U.S. Dollar Currency Index
Yesterday, $DXY             confirmed that 95$ has turned from resistance to support with a strong rally that came after Yellen's speech.
It seems like the market again pricing in a potential rate hike on Jun'e FOMC meeting and the Dollar responds accordingly.

Things are looking like $DXY's price intends to continue higher to re-test the 200 days MA line and reach the secondary target zone of the bullish Butterfly pattern, near 96.5$
If the Fed won't raise rates on June, the result will probably be another bearish wave for the Dollar.



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