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US Dollar Short-term Outlook: USD Support Test Risks March Breakdown
The US Dollar Index is up just 0.25% in February despite a monthly trading range of more than 2%. A reversal off uptrend resistance is now testing support at the January uptrend and the battle lines are drawn heading into the March open. These are the updated targets and invalidation levels that matter on the DXY short-term technical charts. Technical Outlook: In my last USD Short-term Outlook, we noted that DXY had, “rallied nearly 4% off the December lows with the advance now testing confluent uptrend resistance- risk for near-term exhaustion into this technical hurdle… losses should be limited to 103.49 IF ... (full story)