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US Dollar Index Price Analysis: Initial upside target at 93.50

US Dollar Index Price Analysis: Initial upside target at 93.50 ;DXY extends the bounce of +2-year lows and regains 93.00.Further gains are probable and face

US Dollar Index Price Analysis: Initial upside target at 93.50
Yazar: Zack Smith

Yayınlanma: 3 Eylül 2020 15:43

Güncellenme: 6 Kasım 2024 16:04

US Dollar Index Price Analysis: Initial upside target at 93.50

  • DXY extends the bounce of +2-year lows and regains 93.00.
  • Further gains are probable and face initial hurdle around 93.50.
DXY is prolonging the rebound from recent lows in the 91.80/75 band (September 1), managing to reclaim the key 93.00 barrier. That said, the ongoing recovery carries the potential to extend further and face interim resistance at the weekly tops near 93.50 (August 21) ahead of the more significant hurdle in the 94.00 neighbourhood. The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.42. The resumption of the selling bias is seen dragging DXY to the April 2018 low at 89.23 ahead of the March 2018 low at 88.94.

US Dollar Index Price Analysis: Initial upside target at 93.50

DXY daily chart

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