The US Dollar has been beaten down in 2017. Will this trend continue? Let's take a look at the USD Index (DXY). USD Index (DXY) Weekly Chart (click to enlarge) Consolidation:- The weekly chart shows us that the USD has been more or less sideways since 2015. There was a bullish continuation attempt in late 2016, which has already been retraced in 2017. Support:- The DXY chart shows the USD back near the lows it has seen since 2015. We have seen price bounce up from the 92-93 area. - The thing is, during the other times, the bullish momentum was still alive, reflected by the fact that the RSI held above 40 the whole time. - Also price was trading above the 100-week and 200-week simple moving averages, which reflects a bullish trend. - This time, price has fallen below the 100-week SMA, and the RSI has pushed to 30, which indicates some bearish momentum. This shows that the uptrend is dead. - So if the uptrend is dead, should we still anticipate support here? - I think there is a good chance the USD will find support around 92 even if it does not eventually resume the uptrend. It could be simply part a bullish swing within the consolidation context. - In that case, we should limit any upside to 100.00 on the DXY. - A break back above 94 might trigger this bullish attempt because right now, price is consolidating just under 94.