DXY extends the bearish mood and revisits the low-106.00s, where some initial support appears to have turned up so far on Monday.
Considering the ongoing price action, a break below the 106.00 zone should not be ruled out in the short-term horizon. Against that, the index carries the potential to drop further and retest the post-FOMC peak at 105.78 (June 15).
Despite the ongoing downside, the near-term outlook for DXY is seen constructive while above the 5-month support line near 103.60.
In addition, the broader bullish view remains in place while above the 200-day SMA at 99.18.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.