US Dollar Nearing Important Support

technical analysis, stock chart analysis, stock charts, technical chart, chart analysisThe US Dollar Index is at a key support level right now. I don’t trade the US Dollar or foreign currencies but I do watch them closely. Why? Movement in the dollar is inversely correlated to the asset classes I trade and it helps to know if those winds are going to be in the face or at the back of my investments.

Keep an eye on confluence of lateral and uptrend support at 80.75.

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Positions in SPY and EEM at the time of publication.

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.