Dollar Index Nears Crucial Line In The Sand

The Bloomberg Dollar Index has given up almost three-quarters of the post-Trump-election gains - having tumbled for 5 days straight. However, with seemingly everything on the line in Thursday's Obamacare repeal vote, the USD index is within 1% of two crucial technical levels.

1215-1217 is a critical level of support for the Bloomberg Dollar Index...

The intersection of the 200-day moving average and a major fibonacci retracement level.

 

As a reminder, speculators are still extremely net long Dollars...

Is another big long-squeeze coming?

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