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May 14 - 05:00 PM
USD: DXY Rally Shows First Sign Of Maturity; Weekly Close Key - NAB
First appeared on eFXplus on May 14 - 03:15 PM

NAB Research discusses the USD Index (DXY) and notes some first potential signs of maturity of its recent rally.

"Recent impulsive multi-week upswing produced a material failure last week in failing to hold the break above its 50-week MA and upper weekly Bollinger band at 92.55/75. Bearish weekly Doji Star complete.

Weekly close below 91.55 will confirm a high probability MT top and return to the LT downtrend, NAB argues. 

NAB Research/Market Commentary


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