Dollar In Front Of Negative Rates

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May 13, 2020 4:37 AM
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U.S. Fed President Jerome Powell will speak later today and there is no doubt that the negative rates topic will be raised as U.S. President Donald Trump tweeted yesterday: "As long as other countries are receiving the benefits of Negative Rates, the USA should also accept the 'GIFT'."

From a technical point of view, on a daily chart, Dollar Index is searching for a trend as it stands between two trend lines and is trading around its 50-day moving average (in blue). The daily RSI stands around its neutrality area. Readers may therefore consider the potential for further advance in case of a break above April top at 101.00 which would lead to March high at 103.00. The nearest support would be set at Mar. 30 bottom at 98.30. A break below this threshold would lead to further weakness towards horizontal support at 97.40.
Chart analysis of US Dollar(USD) indices. Published in May 2020 by FOREX.com
Source: TradingView, GAIN Capital

 
 
Related tags: Dollar Forex Powell

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