US Dollar Index Price Analysis: DXY defends 94.00, rebounds from weekly support line

DXY options up bids to snap two-day pullback from each year top.
Momentum line fails to lower back recuperation moves, 50-SMA, state-of-the-art August tops add to the draw back filters.
US Dollar Index (DXY) takes the bids to refresh intraday excessive to 94.01 in the course of early Monday. In doing so, the dollar gauge bounces off a temporary aid line to consolidate the modern day pullback from the every year top.

However, the restoration strikes lack Momentum and as a result stay dubious until crossing the 94.20 instant hurdle.

Should the quote stays high-quality past 94.20, the every year height close to 94.50 and the September 2020 excessive of 94.74 will be in focal point earlier than the ninety five threshold.

Meanwhile, a draw back wreck of the instantaneous aid line close to ninety four won’t be a pure welcome for the DXY agents as a convergence of late August tops and 50-SMA, shut to 93.70-65, ought to project the bears.

In a case the place the US Dollar Index dealers dominate previous 93.65, a three-week-old horizontal location close to 92.90 will be fundamental to watch.

To sum up, DXY stays bullish however intermediate pullback can’t be dominated out.



Read Previous

EUR/GBP Price Analysis: Critical support meet near 0.8580 on RSI divergence

Read Next

AUD/USD drops back below 0.7300 on China, Evergrande fears

Leave a Reply

Your email address will not be published. Required fields are marked *