USDOLLAR Strength Is Challenging SMA Resistance on Daily

11 Mei 2020

The charts show FXCM's USD index (USDOLLAR). The left charts shows the daily index powering into the black 20-SMA (aqua ellipse). If it overcomes this SMA resistance and the daily RSI moves above 50 (blue rectangle), it will be bullish developments. The right chart shows a strong intraday impulse with the EMAs (5-hour EMA >10-hour EMA) in bullish mode (green ellipse) and the short-term RSI well on the bullish side of 50. If these dynamics sustain, it indicates money moving into the safety of the greenback and will denote that the market is potentially moving into a risk-off environment.