- Analytics
- News and Tools
- Market News
- US Dollar Index Price Analysis: A deeper pullback appears likely
US Dollar Index Price Analysis: A deeper pullback appears likely
- DXY sheds further ground and breaks below 104.00.
- The continuation of the corrective decline could revisit 102.30.
DXY breaches the 104.00 support and drops to new 2-week lows in the 103.20 region on Tuesday.
Against that, further retracements remain well on the cards and could now target the next support at 102.35 (May 5 low), where decent contention is expected to emerge.
The current bullish stance in the index remains supported by the 3-month line around 100.00, while the longer-term outlook for the dollar is seen constructive while above the 200-day SMA at 96.39.
DXY daily chart
© 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
