US Dollar Attempting Breakout
U.S. Dollar Currency IndexTVC
Description
⋅ DXY is attempting a breakout of the March downtrend with a potential upslope identified here off the lows.
The weekly opening-range is set just above weekly open support at 101.58. Look for the breakout into the close of the week.
A topside breach of the median-line would expose the 2016 high-close / 2020 highs into the 103-handle.
A break below the lower parallel would threaten resumption towards the yearly / February lows at 100.82.
Michael Boutros, Sr Technical Strategist with FOREX.com
@MBForex