Long

$DXY $UUP - Movin' on $UUP

Updated

With economic uncertainty continuing to grip the financial markets, the US Dollar continues to be in play. As global investors flock to US assets, both stocks and bonds, in search of above average returns and safety, the US Dollar continues to strengthen against its G10 and EM counterparts.

As this trend continues, a key level to watch for the Greenback is its Weekly Resistance Level of $98.19 (Orange). If the US Dollar can breach this level, we expect the Greenback to move higher.

Note

breached its Weekly Resistance Level of $98.19 (Orange). If it can hold its gains, then the Greenback will make its way to its Monthly Resistance Level of $98.95 (Blue).

Investors should (continue) to watch this space.

Note

continues to advance higher, as it breached its Monthly Support Resistance Level of $98.95 (Blue).

It appears that this level has now turned into a support, as prices have now begun to fluctuate around this level.

If the can hold this level as a support, $100 could be its next stop.

EconomicsGlobal

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