U.S. Dollar Index Chart.
For the majority of the past nine years, the has created a series of higher lows and higher highs, creating a long-term rising channel.
The weakness over the past nine months, has the greenback slipping below a potential cluster of support at (1).
The 88-89 level has come into play as support and resistance numerous times since 2008.
Until proven differently, this level first comes into play as support.
If the level fails to hold as support, the dollar could lose another 5% quickly!
What the U.S. dollar does at the 88-89 level, will send a very important signal to , , commodities and interest rates.
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