The US Dollar Index fell during the session on Friday, but remained above the 80 handle. The 80 handle is going to be a bit of a supportive area, so we
The US Dollar Index fell during the session on Friday, but remained above the 80 handle. The 80 handle is going to be a bit of a supportive area, so we would not be surprised at all to see this market bounce from here. However, if we close below the 80 handle on the daily chart, we believe that the market will then go and look for support down near the 79 handle, which is a much more significant level. Ultimately though, we need to see which direction we close from the 80 level before we start trading.
US Dollar Index Forecast June 30, 2014, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
