While the press is touting the lengthening of weakness in the USD, it should be noted that the index aggressively rejected yesterdays spike lower move definitively. We think the USD is getting a lift from slightly disappointing Chinese economic data overnight and also from the slight track lower in US treasury prices. From a technical standpoint, daily stochastics are trending lower but have declined into oversold territory now. The short term down trend remains intact with the close below the 9 day MA. Resistance comes in at 9075 and 9095 with support at 9040 and 9020.

USD June ’21 Daily Chart
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Tony Cholly

Senior Market Strategist
Tony majored in Economics at Eastern Illinois University. He performed his thesis on the market price of corn in the market and the factors that affect it. Tony was drawn to futures trading because of the opportunity to have financial gains in an economic environment. He prides himself on working with customers one-on-one and developing a trading strategy based on the client's needs and wants.
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