Only 6 closing days below the 50% midpoint since November 2016
Did you know that the 50% midpoint of the move up from the 2016 low to the 2016 high at 108.773, has only had 6 closes below that level since November 2016. There have been 20 days when the price has traded below - including yesterday - but only 6 closes. That is not a lot of days.
Today the low reached 108.91. We currently trade at 109.21. So we are on the bullish side of that line in the sand.
Drilling down to the hourly chart below, there is a lot of ups and downs. The stock markets ebbs and flows have played a role in the price action. Technically, the price has been trading above and below an "old" trend line (see red circles). The low today sorta stalled near it. The line is moving toward the 108.77 midpoint level from the daily chart. So that is a support target.
On the topside, the 100 hour MA is a level that needs to be broken and stay broken for dollar bulls to get more excited. That comes in at 109.542.
Another target comes in at 109.76 (see green numbered circles). That level stalled the rally at the close yesterday. Get above would be more bullish too.
