USD Index - Near Term Uptrend Still Intact

7 Eki 2017

After the breakout of an Inverse Head and Shoulders the USD Index hit the 93.635 area as highlighted last week. The near term uptrend is still intact meaning we are looking for further advances in the USD Index. However, price is currently at a key area of resistance (93.635) which has the ability to reverse the near term trend. As long as price stays above the 93.635 we will look to longs up towards the target of 94.63. A break below the 93.635 area of resistance would clear the way for moves back to the 92.865 / 92.565 area.