News

US Dollar Index Price Analysis: DXY bounces and approaches 100.00 handle

  • US dollar index (DXY) is up for a second consecutive day. 
  • The level to beat for buyers is the 100.00 handle.
 

DXY daily chart chart

 
Last week, the greenback had its largest weekly decline since April 1986 as DXY challenged the 50-day simple moving average on the daily chart.
  

DXY four-hour chart

 
DXY is rebounding above the main SMAs as the bulls want a daily close above the 100.00 psychological level. A break above the above-mentioned level can open the doors to the 100.50 and 101.50 resistances on the way up. Conversely, bears would need to regain the 98.00 figure to extend the bearish move seen last week.
   

Additional key levels

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.