- US Dollar Index Price Analysis: Extra losses not ruled out near term
Market news
6 June 2022
US Dollar Index Price Analysis: Extra losses not ruled out near term
- DXY comes down and retests the 102.00 zone on Monday.
- Immediately to the downside emerges the 55-day SMA.
DXY fades part of Friday’s advance amidst the better mood in the risk-associated universe.
While gains in the dollar appears capped by the 102.70/75 area, the resumption of the downtrend could revisit the interim support at the 55-day SMA at 101.44 ahead of the May low near 101.30 (May 30).
As long as the 3-month line around 101.00 holds the downside, the outlook for the index should remain constructive.
Looking at the longer run, the outlook for the dollar is seen constructive while above the 200-day SMA at 97.03.
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