SamKent

Dollar may have to slow down for the next couple of weeks

INDEX:DXY   US DOLLAR CURRENCY INDEX
28 0 2
The Dollar's rally has been impressive to say the least, looking at the weekly line chart, we can see the straight shoot up bull move of recent weeks. In terms of the technical outlook, the Dollar seems prime for a slowdown, looking at recent RSI overbought points, we can see that they proved quite significant. To add to that, price looks to be running into the current ascending channel resistance line. This all means to us that it may be time to lower some of our current exposure to the Dollar, it does not however change our overall bullish bias and outlook for the greenback.
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