GhostSquawk

Dollar index taken a beating - #dxy #forex

Long
TVC:DXY   U.S. Dollar Index
After breaching the 100 handle on the dollar index, we have seen several central bankers from the BoC, RBNZ and now perhaps the ECB shift towards tighter policies. This is helping to pressure those currencies higher and as a result is helping opt drive the dollar index lower. As we move pass these events, will the market shift back to stronger dollar? By looking at the technical, we can see that the dollar index bounce off a support level at 99.65. IF the dollar rally is to continue, it would start here. Watch out for a further retest of the highs in the dollar index at 100.50 mark. A break of this would take us to 100.70 or higher.

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