US Dollar Technical Outlook: USD Clings to Support Ahead of CPI, Fed

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Euro Technical Outlook: EUR/USD Multi-Timeframe Analysis

U.S. dollar index support has held for four straight weeks, with consumer price index data and the Federal Reserve meeting set to resolve it. Michael Boutros, StoneX Media Senior Market Analyst, walks through the U.S. dollar across the weekly, daily and four hour charts. The monthly opening range is still taking shape above lateral support, and the dollar index has been straddling its 52-week moving average for several weeks. Consumer price index data lands first, feeding straight into how markets price the Federal Reserve decision that follows. The multi-week downslope remains intact while that support zone holds on a closing basis.

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--- Written by Michael Boutros, Senior Technical Strategist

Follow Michael on X @MBForex

 

 

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