USD At Key Levels
Anna Coulling | Apr 24, 2018 11:40AM ET
As I have written on several occasions, a key level for the USD Index has been the 90 price point, around which the index has been trading since February this year. The high so far has been 90.89 and the low 88.15, and as the index is once again approaching this year’s high, I thought it would be useful to look at some levels the index needs to breach if the current bullish tone is to continue.
And the first level to consider is at 90.80, which the index needs to break and hold above as it would open the way to 91.11. A successful break here would drive USD on to 91.41 and if bullish momentum were to continue, the index could close out April in the 92.20 region – It’s best performance to date.
However, a failure to hold above the 90.80 price point would see the index move back down to the 90 level where further consolidation awaits.
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