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25 Feb 2020
US Dollar Index Price Analysis: Decent support emerged near 99.10 so far
- DXY has managed to rebound from the 99.10 region once again.
- While above the 200-day SMA there is still room for a test of 100.00.
DXY remains cautious amidst the prevailing risk-off context in the global markets. The index managed to rebound from weekly lows in the 99.10 region, where is located a Fibo retracement of the 2020 rally.
Friday’s pullback forced the index to recede from overbought levels, although the underlying bullish view remains unaltered for the time being.
That said, the dollar is expected to resume the upside with initial target at the psychological triple-digit barrier.
DXY daily chart
