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SEB: USD INDEX building upside pressure - eFXnews

FXStreet (Łódź) - The eFXnews team note that in the opinion of SEB the USD Index's downside correction has come to an end earlier than expected.

Key quotes

"With the move up from the bull flag (a break will in wave terms however not be confirmed until the b-wave high, 86.01, is taken out) it appears that the downside correction has been somewhat prematurely ended (84.20-83.89 were the thought target range)."

"So keep monitoring 86.01 as a break will be giving the green light to a continued rise and accordingly new tops (88-ish?)."

"An alternate wave count holds the door open to a bull triangle i.e. more time spent in the past weeks range before breaking higher."

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