Despite these continued gyrations around the 95.50 level, I still consider the US$ to be in no-man’s land though whilst it trades above 92.50 but below 100. I am waiting for a decisive breakout from this region to signal the next major directional move on the index as this choppy and range-bound price action has gone on for over 18 months. The levels to keep watching on the USDX are:
The 95.50 level.
The psychological 100 level above current price. This is the top of the longer-term trading range.
The 92.50 level below current price. This is the bottom of the longer-term trading range.