The correction of the dollar's index has led it to the important zone of 105-105.5 after reaching the 20-year maximum. Currently, there is a semi-annual uptrend, and also it is here, where the local maximum of May and June are located. Indicator RSI has fallen to the minimum level from the spring of the past year signalizing a quite possible upward rebound.
After the beginning of the formal recession in the economy of the USA, the expectations of the dollar’s growth are significantly corrected. And even if no sharp break of the uptrend is awaited right now, it will be much harder for the dollar index to reach the long-term maximums.
This content is for informational purposes only and is not intended to be investing advice.
