US Dollar Index continues to track SMA
The Dollar Basket continues to find support from a cluster of 4-hour moving averages (50-, 100-, and 200-), in particular the 50-simple moving average. The gradual grind higher means we are seeing higher lows, yet to the upside we remain below 96.42, which means a symmetrical triangle is in play.
As such, any significant move higher would need to see price break through 96.42. Conversely I would need a move back below 95.86 to continue the selling that has been in play over the past three trading days. Above 96.42, key resistance points are initially at 96.71 and 96.89. Below 95.86, the next key support level ids at 95.60.