BUZZ-COMMENT-Technical signal hints at a major dollar reversal ahead
Feb 27 (Reuters) - The U.S. dollar decline since early February has paused and instead a technical signal hints that it could be on the verge of a reversal higher in the days and weeks ahead.
The dollar firmed for a second day on Thursday, but was still close to an 11-week trough as vague pledges from U.S. President Donald Trump to impose tariffs on Europe and further delay levies planned for Canada and Mexico stoked uncertainty.
The USD index, which tracks the greenback against a basket of six major currencies, left a long tail on Monday's candlestick, pointing to a rejection of the downside. There is scope for bigger gains through last week's 107.380 high, which in turn would unmask the psychologically significant 108.00 level.
However a sustained break under Monday's USD index 106.12 low would point to a resumption of the fall from the February 3 109.88 peak. Especially as 14-day momentum remains negative.
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