8 Apr 2015
USD Index might correct towards 95.00/94.50 – BAML
FXStreet (Barcelona) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA-Merrill Lynch, sees a possible correction in USD Index towards 95.00/94.50 before resumption of the bull trend.
Key Quotes
“Similar to our outlook for €/$ and £/$, the US $ Index correction does not yet look complete. Indeed, evidence says that we should see a decline to the 95.00/94.50 zone before the larger bull trend resumes for the 106.00 area. US $ Index bulls need a break of the Mar-31 high at 98.67 to say that the correction is over and that the bull trend has resumed.”
Key Quotes
“Similar to our outlook for €/$ and £/$, the US $ Index correction does not yet look complete. Indeed, evidence says that we should see a decline to the 95.00/94.50 zone before the larger bull trend resumes for the 106.00 area. US $ Index bulls need a break of the Mar-31 high at 98.67 to say that the correction is over and that the bull trend has resumed.”