Talking Points:
– Bearish USDOLLAR Setup Remains in Play; 10,440 Up Next (78.6% Fibonacci Retracement)
– Japanese Yen Benefits From Less-Dovish Bank of Japan (BoJ); 101.00 in Sight
– GBP/USD Continues to Carve Higher Lows Ahead of BoE; Higher High on Tap?
Index
Last
High
Low
Daily Change (%)
Daily Range (% of ATR)
DJ-FXCM Dollar Index
10457.81
10532.99
10457.08
-0.70
208.92%
USDOLLAR Daily
Chart – Created Using FXCM Marketscope 2.0
Bearish Price & RSI Continues to Favor Downside Targets
Interim Resistance: 10,602 (38.2 retracement) to 10,615 (78.6 expansion)
Interim Support: 10,440 (78.6 retracement)
Release
GMT
Expected
Actual
NFIB Small Business Optimism (MAR)
11:30
200K
192K
Fed’s Narayana Kocherlakota Speaks on U.S. Economy
17:30
Fed’s Charles Plosser Speaks on Bank Regulation
18:45
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Read More:
Price & Time: USD & Stocks Losing Luster
Is USDJPY Finally Breaking Lower? One Critical Factor We’re Watching
— Written by David Song, Currency Analyst
To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.
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Source: Daily fx
