As shown on the daily chart of the USD Index, the currency has been biased to the downside for most of this year and recently met with 1M support at 96.80. This has caused the Index to modestly rebound and retest a 6M resistance at 97.39. Given this level's significance and trend direction, sellers could show from 97.39 and refresh year-to-date lows towards 1Y support at 95.67.
- FP Markets Research Team
- FP Markets Research Team
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.