The #USDINDEX remains bullish after the recent FOMC statement. Will this continue?
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USD Index Analysis
The USD Index continues to climb higher fuelled by the recent FOMC statements. The Federal Reserve left rates unchanged at 0.25% but stated once the stimulus ended the tool that they will use to control inflation is the federal fund rates. This could keep the USD gaining value in the short term as currencies tend to rally when talk of a hike is coming.
Looking at the weekly chart we can see that technically the price is in an upward trend and heading towards the key swing highs at $97.00. If the price is going to reach this level we should see the 4hr trend continue. If the price retests the previous highs and price forms bullish price action we can look for long opportunities.
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