Daily Trend: RANGE
DXY continued to rally to make a new three month high. The U.S. Dollar finally faltered at a pocket of resistance between 93.20 – 93.46 and set the July high of 93.20. As it dropped, prices broke the May short-term uptrend, took with it the month’s gains, and rendered the market with no clear direction. The market closed at 92.11 with a -0.3% change.
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US Dollar Index® Correlations –
The charts identify price turning points between U.S. Dollar Index ®, Brent Crude Oil (BRN) and Bitcoin (XBT) which could be used to identify periods during which prices of each of the markets appear positively or negatively correlated.
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TRADDICTIV · Research Team