交易新闻
24 Apr 2015
USD Index recovery towards 100/100.40 on the cards – SG
FXStreet (Barcelona) - Technical Analysts at Societe Generale, see limited downside for USD Index, and further add that the index might see a recovery towards 100/100.4 levels.
Key Quotes
“The steady uptrend in the Dollar Index found resistance near 100/100.40 last month. Since then, it has been consolidating within a pattern similar to a triangle. Notably, a similar formation took shape earlier this year and a break above led to the recent up move.”
“Currently, the index is closing in on the lower limit of the formation, which is also close to the 50-day MA. With the daily RSI hovering near the graphical support of 50%, downside appears to be limited.”
“Lows formed earlier this month at 96.60/30 should cushion the retracement. Previous highs at 95.50 will be a key support. A recovery towards 100/100.40 looks to be in the cards.”
Key Quotes
“The steady uptrend in the Dollar Index found resistance near 100/100.40 last month. Since then, it has been consolidating within a pattern similar to a triangle. Notably, a similar formation took shape earlier this year and a break above led to the recent up move.”
“Currently, the index is closing in on the lower limit of the formation, which is also close to the 50-day MA. With the daily RSI hovering near the graphical support of 50%, downside appears to be limited.”
“Lows formed earlier this month at 96.60/30 should cushion the retracement. Previous highs at 95.50 will be a key support. A recovery towards 100/100.40 looks to be in the cards.”