- US Dollar Index Price Analysis: Further upside likely above 105.60
Market news
1 September 2022
US Dollar Index Price Analysis: Further upside likely above 105.60
- DXY extends the upside and rises to 3-day highs near 109.20.
- Extra gains remain in place above the 105.60 region.
DXY reverses Wednesday’s downtick and resumes the buying interest north of the 109.00 mark on Thursday.
The prospects for extra rebound look well and sound while above the 7-month support line, today around 105.60. Against that, the breakout of the 2022 high at 109.47 (August 29) should pave the way for a challenge of the September 2002 top at 109.77 and the round level at 110.00.
Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.93.
DXY daily chart
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