- USDOLLAR Outlook to Turn Increasingly Bearish on Close Below 10,440
- EUR/USD Bullish Breakout Taking Shape; Looking For Close Above 1.3870
- AUD/USD& AUDJPY to Retain Narrow Range Going Into RBA Meeting
The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) continues to show a limited reaction to the positive developments coming out of the world's largest economy, and the reserve currency remains at risk of giving back the advance from back in October (10,354) as the Federal Reserve remains reluctant to move away from its highly accommodative policy stance.
Daily Change (%)
DJ-FXCM Dollar Index
Even though we're still watching the monthly opening range, the USDOLLAR may have set the high for May (10,495) as price & the Relative Strength Index (RSI) retain the bearish trend from earlier this year, and a close below the 10,440 region would favor a further decline in the greenback as it fails to preserve the range-bound price action carried over from April.
With Fed Chair
Markit Purchasing Manager Index Services (APR F)
Markit Purchasing Manager Index Composite (APR F)
ISM Non-Manufacutring Composite (APR)