Dollar Looks For Fundamental Support To Break Higher

Published 01/26/2017, 05:15 AM
Updated 07/09/2023, 06:32 AM


The greenback continues trading under pressure but in range as President Donald Trump's economic policy remains surrounded with uncertainties. US dollar index failed to take out immediate resistance at 100.40 despite attempting quite a few times instead the level proved to be an attraction for the sellers to re-emerge. Pressure increased when on Wednesday President Donald Trump take one step forward for the construction of a border wall with Mexico. Investors remain concerned on U.S. protectionism and took the dollar index down to hit a new range low at 99.76.


Technical picture of the US dollar index short term charts shows the possibility that this range trade is probably now developing a falling wedge formation which may keep the dollar continue trade in range for another session.


Support: 99.80, 99.40
Resistance: 100.20, 100.40, 100.80
DXY Hour Chart

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