- USD Index Price Analysis: There is a tough support around 101.00
Market news
15 May 2023
USD Index Price Analysis: There is a tough support around 101.00
- DXY faces some selling pressure after hitting fresh monthly peaks.
- Above 102.80 comes the April high at 103.50 (April 3).
DXY clinches fresh monthly tops near 102.80 but fades the move soon afterwards on Monday.
The continuation of the bullish move should clear the weekly high at 102.80 (April 10) to open the door to a probable visit to the April high at 103.05 (April 3).
On the downside, there is a formidable contention around the 101.00 neighbourhood for the time being.
Looking at the broader picture, while below the 200-day SMA, today at 105.83, the outlook for the index is expected to remain negative.
DXY daily chart
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