- Analytics
- News and Tools
- Market News
- US Dollar Index: Bounce to extend on a move beyond 103.60 – SocGen
US Dollar Index: Bounce to extend on a move beyond 103.60 – SocGen
The US Dollar Index has experienced a phase of rebound after forming a significant low near 99.50. Economists at Société Générale analyze DXY’s technical outlook.
Recent pivot low at 101.75/101.60 to be an important support zone
DXY is now probing the 200-DMA and close to July peak of 103.60. This could be a potential resistance. Failure to cross can result in an initial pullback towards a steeper ascending trend line near 102.70.
Recent pivot low at 101.75/101.60 is expected to be an important support zone. Only if this gets violated would there be risk of a deeper down move.
If the index establishes above 103.60, the bounce is likely to extend.
© 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.
Bank transfers
