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US Dollar Forecast: USD Battle Lines Drawn at Major Pivot Zone
The US Dollar is poised for a fourth consecutive weekly-advance with DXY rallying nearly 3.2% off the December lows. The index is now testing a critical pivot zone and the focus is on possible price inflection up here in the days ahead. These are the updated targets and invalidation levels that matter on the DXY weekly technical chart heading into the close January. Technical Outlook: In last month’s US Dollar Technical Forecast we noted that DXY was, “breaking a major support confluence here. From at trading standpoint, rallies should be capped by 103.50 IF price is heading lower on this stretch...” The Dollar ... (full story)