US Dollar Index Price Analysis: Upside seen as temporary
|- DXY probes once again the 90.30 region, or 2-day peaks.
- The reversion of the rebound could re-visit 89.50.
DXY leaves behind Thursday’s pullback and re-visits the 90.30/40 band on Friday, or 2-day highs.
Bullish attempts, in the meantime, remain capped by the 90.50/60 band for the time being. As long as this area continues to cap the upside, there is still room for a potential drop to May’s low in the mid-89.00s.
In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.56 the outlook for the buck is forecast to remain negative.
DXY daily chart
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.