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US Dollar Index Technical Analysis: Decline should falter around the 200-day SMA in the mid-96.00s

2019-06-20 16:00

  • The greenback continues to correct lower following the dovish message at the FOMC meeting on Wednesday.

  • Further retracements should meet the next relevant support at the 200-day SMA and the multi-month support line in the mid-96.00s. This area of contention is reinforced by recent monthly lows in the 96.50/45 band.

  • A resumption of the bullish stance should find initial target at the 97.36/43 band, where coincide the 21-day and 55-day SMAs.



DXY daily chart







 


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