US Dollar Technical Positioning Hints at Bullish Reversal

The US Dollar may be setting up to reverse higher, with the USD Index (an average of the greenback’s value against six top currencies) showing positive RSI divergence at a double bottom in the 77.69 - 78.33 congestion region. Looking at specific currency pairs, current positioning is hinting at forming tops in EURUSD and GBPUSD. An upswing from here will initially target 80.89, the top of the range that has confined prices since late May.