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Dollar Index Formed Bullish Wedge Pattern

FTD Limited by FTD Limited
December 2, 2020
Reading Time: 1 min read
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technical analysis article on u.s. dollar index
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Dollar Index | Daily Chart - RSI 14
Dollar Index | Daily Chart – RSI 14

Dollar Index has formed a bullish wedge pattern. Downward pressures may continue before medium-term upward moves to start but in the short-term a backtest of the 92 level then reverse to red trend line is possible. Unless the price break above 92, 90.475 level will be a good target.

If DXY Index breaks 92 resistance to the upside then the upper line of the bullish wedge which is at 93.235 at the moment, can be tested again.

Tags: dollar indexForexindexTechnical Analysis
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