Michigan in sight

Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

Michigan in sight

Later today, the University of Michigan will publish its Consumer Sentiment Index for July, expected at 79.0.The U.S. Commerce Department will report June housing starts (1.18 million units expected) and building permits (1.29 million units expected). 

From a technical point of view, on an intraday chart, Dollar Index remains on the upside and is supported by its rising 50-day moving average (in blue). The daily RSI stands within its buying area. Readers may therefore consider the potential for further advance as long as 96.15 is not broken to the downside. The nearest resistance would be set at July 16 top at 96.40. A second one would be set at horizontal resistance at 96.50.

Source: TradingView, GAIN Capital


Related tags: Forex Forex

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar