US Dollar Index First Test for Bulls Since February Low
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US Dollar Index First Test for Bulls Since February Low

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Chart Prepared by Jamie Saettele, CMT

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-The last update noted that "the buck has turned up after piercing the December ECB low. If a broader decline is underway, then resistance probably needs to register (again) near the channel line that has been resistance and support since Brexit." The mentioned channel was reached today. This is the first test for bulls since the low was registered on the second day of the month. The 55 day average is up here too.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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