- USD Index to head higher toward 50-DMA at 103.50/104 – SocGen
Market news
3 April 2023
USD Index to head higher toward 50-DMA at 103.50/104 – SocGen
The US Dollar Index has recently carved out a higher trough at 101.90 as compared to the one in February at 100.80. Economists at Société Générale expect DXY to test the 103.50/104.00 zone.
Recent low of 101.90 is an important support
“Downward momentum is getting arrested. The index is attempting a break above the channel that has encompassed recent down move.”
“A revisit of 50-DMA at 103.50/104.00 is expected. Overcoming this could trigger an extended rebound towards March peak of 105.90.”
“Recent low of 101.90 is an important support.”
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