DXY’s outlook remains constructive – BBH

Analysts at BBH have noted the outlook on the greenback stays constructive for the time being.

Key Quotes

“The Dollar Index did not fall in any session last week.  It has had one losing session over the past nine, and that was the last day in March when the Dollar Index slipped less than 0.1%.  It finished the week a bit above the 61.8% retracement objective of the decline from last month's peak (March 9) near 102.25, found just below 101.00”. 

“A trend line from the January and March highs is found near 101.40 by the end of next week. It corresponds to the 50% retracement of the Dollar Index decline from the January high, and near the upper Bollinger Band (~101.55 now). The 61.8% retracement of this larger move is found a little below 102. The technical indicators are constructive, and the five-day moving average crossed above the 20-day average for the first time since the Fed hiked rates in the middle of March”.