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- USD Index Price Analysis: Rebound needs to clear 108.00
USD Index Price Analysis: Rebound needs to clear 108.00
- DXY faces some downside pressure and recedes from 108.00.
- The index could accelerate gains once 108.00 is cleared.
DXY gives away part of the recent 3-day positive streak and revisits the 107.30 region on Tuesday.
Ideally, the index should leave behind recent highs near 108.00 to allow for the continuation of the rebound to, initially, the 100-day SMA, today at 109.19, prior to the resistance line around 109.70.
While above the key 200-day SMA at 105.17, the outlook for the index should remain constructive. This region is also reinforced by the November low at 105.34 (November 15).
DXY daily chart
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