US Dollar Daily Chart

The 50 period moving average has provided key support/resistance levels for the previous trends and if it holds true going forward then we are not far from another rally in the dollar.

The interesting thing with the US Dollar is that in Nov-December it rallied breaking through a key resistance level and has been consolidating above support ever since. If this bullish pattern (bull flag) plays out, then it's just a matter of time before the dollar makes another strong rally upwards, which will put downward pressure on stocks and commodities.

FIND OUT MORE