US Dollar Index Price Analysis: Overbought RSI probes DXY bulls near three-month top

DXY bulls take a breather all through a four-day uptrend, close to early April tops.
23.6% Fibonacci retracement guards immediately upside, three-week-old aid line will become the key.
Bulls continue to be hopeful past 200-DMA, ascending vogue line from May provides to the upside filters.
US greenback index (DXY) steps returned from intraday excessive to 92.38 whilst staying round the three-month pinnacle at some point of early Thursday.

The USD gauge jumped to the best because April 06 the preceding day but overbought RSI stipulations appear to avoid on the spot upside round 23.6% Fibonacci retracement of January–March upside, close to 92.45.

It should, however, be stated that the DXY bears aren’t probably to be serious till the quote stays past an ascending guide line from June 11, shut to 92.14.

Also performing as the key draw back degree is the 92 threshold and 200-DMA close to 91.45.

On the flip side, a clear spoil of the instantaneous Fibonacci retracement degree close to 92.45 will be wondered by means of a two-month-long resistance line round 92.65 and the ninety three round-figure earlier than the each year pinnacle of 93.45.

Overall, DXY stays on the bull’s radar however intermediate pullback can’t be dominated out.

admin

Read Previous

USD/CNY fix: 6.4709 vs the prior 6.460

Read Next

Aussie Trade Balance: Exports soar 6% MoM, AUD at a standstill

Leave a Reply

Your email address will not be published.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