The US Dollar has been relentlessly sold against FX peers since January 3rd, 2017 ….
shedding pips-a-plenty versus EUR, GBP, JPY, CHF, CAD, AUD, NZD …
Uncle Buck has been pummeled ..
Following a series of explicit failed new highs in early-mid March …
the USD weekly chart shows just one bounce attempt worth examining (at the end of March, from 3.27.17 – 4.7.17) ..
The following two charts show composite RSI and DMI values for each individual currency. These composite RSI and DMI values are derived from performing data comparisons across all currency pairs.
Note that on 9/8 (the recent $ swing low of 91.01) …
the USD (in green) registered the lowest RSI value (26) and DMI value (-30) of any currency ..
and by a wide margin.
Now, the US Dollar sports the highest RSI and DMI values of any currency; suggesting that it may be primed for an upside breakout.
For more EURUSD technical analysis:
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