Technician

Dollar retesting near term support

INDEX:DXY   U.S. Dollar Index
765 5 22
Dollar index             is retesting a key near term support around 98.75, should hold if the bullish bias to resume. A break below it could increase the chances of further correctional bias. I see next support below at the 50-days SMA and 96.60 level.



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I too am following US Dollar. Looking at oil for a short / Put Play, best opportunity if US Dollar sticks here and goes higher.
+3 Reply
Technician QuantitativeExhaustion
Yep, both are testing key levels
+1 Reply
I think it will and that it is going to confirm the scenario of the dollar rangin until the actual change in interest range !
Reply
Technician jeanbaptiste.laurent.94
"ranging till actual change" i think that can't happen, because markets are pricing mechanism, and there will be no change in interest rate unless we see fundamental data going back on track and showing good performance, and that will lead to U.S. dollar gains again until the real hike..

The range scenario is possible though, if fundamental data continue to be mixed, but that would make markets confused about the timing of the next hike
+1 Reply
djflowmaster Technician
Completely agree on this too.
Reply
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