- US Dollar Index Price Analysis: Short-term target emerges at 107.00
Market news
17 August 2022
US Dollar Index Price Analysis: Short-term target emerges at 107.00
- DXY keeps the weekly bounce well in place near 106.80.
- Extra upside appears likely once 107.00 is surpassed.
DXY quickly fades Tuesday inconclusive price action and resumes the upside to the upper end of the recent range near 106.80.
The continuation of the upside momentum could extend to the August high near the 107.00 mark (August 5). The breakout of this level should motivate the index to challenge the post-FOMC meeting high at 107.42 (July 27).
Looking at the broader scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.22.
DXY daily chart
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