USD: 102.00 area is key for the medium-term - BBH

Sandeep Kanihama FXStreet Contributor

Analysts at BBH explained that the Dollar Index held important support before the weekend, allowing it to finish the week on a firm note with a potential hammer candle stick pattern.

Key Quotes

“The 100.40 level is the neckline of a potential double top that within a possible right shoulder of a three-month head and shoulder pattern. It made a low near 100.65 before recovering, which is also just ahead of the 20-day moving average (~100.57). While initial resistance is seen near 101.75, the 102.00 area is key for the medium-term.”tech

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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