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King Dollar Breaking Below Monthly Support

Published 05/01/2016, 01:57 AM
Updated 07/09/2023, 06:31 AM

USD Monthly 1985-Present

Starting in 2014, the US dollar experienced one of its strongest 12-month rallies in its history. That strong rally pushed it up to the top of a trading channel and drove monthly momentum to the highest levels in the past 15-years.

Over the past 12-months, the USD has pretty much just traded sideways. The US dollar could close out the month at “new monthly closing lows” when looking back over the past 15-months, as momentum remains at lofty levels and curling lower.

US dollar strength has been hard on commodities the past few years. If USD weakness continues, hard hit commodities could attract buyers.

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