Big Moves For U.S. Dollar Index But NO Net Progress This Month!

us dollar index currency widest monthly range history market crash chart month march

U.S. Dollar Index Monthly Chart

The coronavirus panic has wreaked havoc on global financial markets, including the largest market in the world, the currency market.

Today we look at a long-term “monthly” chart of the U.S. Dollar to highlight just how crazy the price movements have been.

Just this month alone, the U.S. Dollar has tested its multi-year highs (resistance) at 1 as well as it’s long-term rising up-trend (support) at 2.

From low to high, that’s nearly 10 percent! A huge move for King Dollar.

But the crazy fact in all this is that the Dollar has made little to no net progress this month! This suggests that the Dollar may continue to trade sideways for a while. Stay tuned!

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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