- USD Index Price Analysis: Next on the upside comes the 200-day SMA
Market news
8 March 2023
USD Index Price Analysis: Next on the upside comes the 200-day SMA
- DXY looks to extend the post-Powell rebound near 106.00.
- Further gains now target the 200-day SMA near 106.60.
DXY advances further and prints new multi-month highs in the 105.85/90 band on Wednesday.
The continuation of the rebound in the dollar seems like for the time being. The breakout of the round level at 106.00 should put the index en route to a probable test of the key 200-day SMA, today at 106.58.
A convincing move beyond the latter should shift the outlook to constructive in the short-term horizon and allow for the continuation of the uptrend.
DXY daily chart
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