US Dollar Index to trend higher towards the 109.25/110.25 area – Credit Suisse
|The US Dollar Index (DXY) has seen a fresh setback. Nonetheless, economists at Credit Suisse expect DXY to advance nicely towards the 109.25/110.25 region.
Support at 102.55/15 set to hold
“Dips will stay seen as corrective ahead of further strength to the 78.6% retracement of the 2001/2008 bear trend and September 2002 high at 109.25/110.25.”
“Whilst we would expect a fresh phase of consolidation to develop at 109.25/110.25, we stay biased to an eventual break higher in due course and see no reason not to look for the USD bull trend to extend in due course to test the 121.02 high of 2001.”
“Support at 102.55/15 ideally holds to keep the immediate risk higher.”
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.