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Trading news
12 Apr 2019
US Dollar Index Technical Analysis: Correction of the correction or the start of a new bull leg
DXY daily chart
- The US Dollar Index (DXY) is trading in a bull trend above its 200-day simple moving average (SMA).
DXY 4-hour chart
- DXY bulls are challenging the 97.20 resistance while they broke above the 50 SMA. Is this the start of a new bull leg?
DXY 30-minute chart
- DXY is currently in a correction down. The recent advance can be considered a correction of the correction. Failure for bulls to move above 97.20 and 97.40 can lead to resumption of the down move.
- Supports to the downside is seen at 97.00, 96.80 and 96.60 level.
Additional key levels