Friday, April 29, 2016

The Dollar Is Approaching Key Support Levels

While technical analysts may differ about the exact level of short-term technical support, most numbers will be around the 93 level.  Commodities (most importantly, oil) will get a boost if that happens.

Yesterday's weak GDP print all but kept the Fed on the sidelines for the next few meetings.  With no rate hike on the horizon, the shorts may take over.