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US Dollar Technical Forecast: USD Bulls Exhaust into Resistance
The US Dollar is poised to snap a three-week winnings streak with the DXY stalling into technical resistance this week. While the medium-term outlook remains constructive, the threat for a larger pullback rises while below yesterday’s high. These are the updated targets and invalidation levels that matter on the DXY weekly technical chart heading into June. chart Technical Outlook: In last month’s US Dollar Index technical forecast we noted that the DXY had, “been resting on support for the past five weeks and the focus is on a breakout of this near-term range. From a trading standpoint, the broader bearish ... (full story)