Advertisement
Singapore markets close in 4 hours 16 minutes

  • Straits Times Index

    3,294.91
    +22.19 (+0.68%)
     

  • Nikkei

    38,357.69
    +805.53 (+2.15%)
     

  • Hang Seng

    17,110.21
    +281.28 (+1.67%)
     

  • FTSE 100

    8,044.81
    +20.94 (+0.26%)
     

  • Bitcoin USD

    66,733.67
    +259.35 (+0.39%)
     

  • CMC Crypto 200

    1,437.52
    +22.76 (+1.61%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • Dow

    38,503.69
    +263.71 (+0.69%)
     

  • Nasdaq

    15,696.64
    +245.33 (+1.59%)
     

  • Gold

    2,340.40
    -1.70 (-0.07%)
     

  • Crude Oil

    83.43
    +0.07 (+0.08%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • FTSE Bursa Malaysia

    1,568.40
    +6.76 (+0.43%)
     

  • Jakarta Composite Index

    7,161.78
    +50.96 (+0.72%)
     

  • PSE Index

    6,572.32
    +65.52 (+1.01%)
     

US Dollar Technical Analysis: Probing at Monthly Highs

Ilya Spivak

DailyFX.com -

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **

  • Support: 11836, 11759, 11711

  • Resistance: 11898, 11960, 12037

The Dow Jones FXCM US Dollar Index is attempting to extend upside momentum after touching the highest level in a month. A daily close above the 50% Fibonacci retracementat 11898 exposes the 61.8% level at 11960. Alternatively, a reversal below the 38.2% Fib at 11836 opens the door for a challenge of the 23.6% retracement at 11759.

We remain broadly bullish on the US Dollar against its leading counterparts in line with ourlong-term fundamental outlook. As such, we remain long via the Mirror Trader US Dollar currency basket.

ADVERTISEMENT

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

US Dollar Technical Analysis: Probing at Monthly Highs
US Dollar Technical Analysis: Probing at Monthly Highs

Daily Chart - Created Using FXCM Marketscope

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.