US Greenback Technical Highlights:
- US Dollar Index (DXY) backing in direction of massive assist check
- AUD/USD seeking to come off of development resistance
- USD/CAD bounce for actual? Not trusting it…
- GBP/USD nonetheless holding its personal, bullish to date
Try the intermediate-term basic and technical outlook for main markets and currencies within the DailyFX Quarterly Forecasts.
US Greenback Index (DXY) backing in direction of massive assist check
The US Greenback Index (DXY) continues to appear like it desires to go decrease, and with that the decrease parallel of a channel in place since final 12 months may quickly get examined. It’s a construction that has saved the tepid development pointed increased, so a maintain there’s seen as essential if a bigger reversal isn’t to take form. A breakdown beneath may set off massive promoting because the longer-term development comes into query with market individuals. However as all the time, should respect assist till it’s damaged.