If Support Breaks, Would Belief In U.S. Dollar End?
Chris Kimble | Aug 18, 2020 11:56AM ET
Is the U.S. dollar about to experience a dual breakdown of support? If so, will the world no longer believe in the U.S. dollar?
This chart looks at the U.S. Dollar over the past 22 years on a weekly basis.
The 92 zone, which is line (1), has been support and resistance several times over the past couple of decades.
The dollar is testing this line as well as the 9-year rising support at (2).
If this important dual support level does not hold, red hot gold and silver would receive a bullish message.
What the dollar does at (2), will send a long-term important message to the commodities markets.
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