- US Dollar Index Price Analysis: A move above the 2021 high remains on the cards
Market news
5 November 2021
US Dollar Index Price Analysis: A move above the 2021 high remains on the cards
- DXY adds to recent gains and approaches the YTD peak.
- A break above 94.56 opens the door to test 94.74.
The buying pressure around the dollar extends for the second straight session and motivates DXY to flirt with the 2021 high in the mid-94.00s (October 12).
If the yearly tops are cleared, then the focus of attention is expected to gyrate to the September 2020 top at 94.74 ahead of the round level at 95.00 in the short-term horizon.
Extra gains remain well in the pipeline as long as the index navigates above the short-term resistance line (off the September low) near 93.50.
DXY daily chart
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page