DXY rallies hard to key level
|The US Dollar Currency index rallied hard in early European trade to the previous lows and is now breaking the current breaking structure. Technically speaking a clean break above the 93.40 level would open room for at least a 0.50% move to the upside to the 93.90 level. USD buys are in play (USDCAD +0.40%, USDMXN +1.09%).
Heads up to USD sellers here. but if the DXY breaks the current bearish structure and the previous highs (93.40) look for USD buys pre US trade.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.