USD Index Price Analysis: Extra range bound on the cards

Noticias del mercado

20 octubre 2023

USD Index Price Analysis: Extra range bound on the cards

DXY alternates gains with losses in the low-106.00s.
Extra consolidation appears in store in the very near term.

DXY trades in an inconclusive fashion around the 106.20-106.30 band at the end of the week.

It seems the index has moved into a consolidative phase for the time being. Occasional bullish attempts, in the meantime, continue to target the weekly high of 106.78 (October 12) prior to the 2023 top of 107.34 (October 3). On the downside, the monthly low of 105.53 (October 12) is expected to hold the downside.

So far, while above the key 200-day SMA, today at 103.29, the outlook for the index is expected to remain constructive.

DXY daily chart

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Enfoque del mercado

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Aviso de riesgo: El hecho de realizar operaciones comerciales en los mercados financieros con instrumentos financieros de margen abre grandes oportunidades y permite a los inversores que estén dispuestos a correr riesgos a obtener altos rendimientos, pero al mismo tiempo conlleva un nivel de riesgo de pérdidas potencialmente alto. Por lo tanto, antes de comenzar a operar, se debe tomar de manera responsable a la cuestión de elegir una estrategia de inversión correspondiente, teniendo en cuenta los recursos disponibles.

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