- US Dollar Index may be set for a major bull phase – Credit Suisse
Market news
24 May 2023
US Dollar Index may be set for a major bull phase – Credit Suisse
Economists at Credit Suisse analyze US Dollar Index (DXY) technical outlook.
The potential for a “double bottom” reversal in the USD is seen to be building
“We look for strength back to the March highs, 200-DMA and 38.2% retracement of the 2022/2023 fall at 105.63/106.13. Above here though is needed to see a ‘double bottom’ reversal confirmed to open the door to a more sustained and material phase of USD strength with next resistance seen at 107.78/99.”
“Support at 102.20 needs to hold to keep the immediate risk higher.”
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