the daily chartist

USD Index recap for 04.01.2016

published 4 years ago
USDX Daily

Happy New Year! And welcome! This is the first post for 2016!

 USD ended 2015 strong, and started 2016 even stronger, as the USD Index rose from its lows from 98.17 quickly to 99.05 yesterday with a slight correction. Rate digestion continues as money flows from other assets into dollars and boosts its overall strength and led to the destruction of equities and other major fx against the usd. The perspectives are for the Index to test 100 again and try to make a push beyond it, though that is likely to fail as it is its "Everest top" to reach. Still everything can happen of course and usd manages to breach undoubtedly 100 and proceed towards more highs. There are a lot of technical levels before that to be passed and the dollar will need support from strong fundamentals from the US. 99.36 is a key to continue the movement up.