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Trading news
19 Jun 2020
US Dollar Index Price Analysis: The next target is now at 98.40
- DXY struggles for direction albeit always above the 97.00 mark.
- Immediately to the upside aligns the 200-day SMA at 98.39.
DXY has so far met resistance in the 97.55/60 band, extending the rebound from recent 3-month lows in the 95.70 region (June 10).
If the recovery picks up a more serious tone, then there is an interim hurdle at 97.87 (Fibo level of the 2017-2018 drop) ahead of the more relevant 200-day SMA, today at 98.39.
Above the 200-day SMA, the dollar’s outlook is expected to shift to positive.
DXY daily chart
