FXstreet.com (Barcelona) - The US Dollar Index, which tracks the greenback against its major competitors, is posting meagre gains on Wednesday, although enough to keep the index above the psychological level at 80.00 after the House of Representatives passed the bill that extends the debt ceiling to May 19
On the long term, David Solin, FX analyst at FXA.com, assessed “an eventual resolution of the multi-month triangle is favoured. However, such a move lower may be limited and part of a more major bottoming, and not the start of a more significant down move”.
At the moment, the index is up 0.05% at 80.02, and according to tradingcentral.com, the next resistance levels line up at 80.20 and 80.40; while supports are located at 79.70, 79.55 and 79.35
On the long term, David Solin, FX analyst at FXA.com, assessed “an eventual resolution of the multi-month triangle is favoured. However, such a move lower may be limited and part of a more major bottoming, and not the start of a more significant down move”.
At the moment, the index is up 0.05% at 80.02, and according to tradingcentral.com, the next resistance levels line up at 80.20 and 80.40; while supports are located at 79.70, 79.55 and 79.35
