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Trading news
24 Feb 2020
US Dollar Index Price Analysis: Still scope for a move to 100.00
- DXY is recovering some ground lost on Friday’s retracement to 99.30.
- While above the 200-day SMA there is still room for a test of 100.00.
DXY has started the week on a positive note and is now managing well to rebound from Friday’s lows near 99.30 on the re-emergence of the risk-off sentiment.
Friday’s pullback forced the index to recede from overbought levels, although the underlying bullish view remains unaltered for the time being.
Against this backdrop, the dollar is expected to resume the upside with initial target at the psychological triple-digit barrier.
DXY daily chart
