justatrader

Dollar Index - Trend line offers some hope

INDEX:DXY   U.S. Dollar Index
244 0 7
Price drops to retest a very old trend line . But price action doesn't look very convincing of an upward move. Support/Resistance at 96.87 - 96.17 is key. Break above could see bulls back in action. Retest to establish resistance could see a possible break of trend line .

Also a bear flag looks to be forming right now. If validated, could see a decline to 92.

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