Home US Dollar Index Price Analysis: Rising bets for a test of 98.80

US Dollar Index Price Analysis: Rising bets for a test of 98.80

Published date: 30 Apr. 2020 | 12:12

DXY remains under pressure, although supported by the 55-day SMA.
Next on the downside emerges the 98.80 region.

The weekly leg lower in DXY has so far met decent contention in the 99.55/50 band. This area of support is also reinforced by the 55-day SMA, today at 99.31.

If the selling impetus gathers extra steam, then the next relevant support comes in near 98.80, or monthly lows.

In case sellers increase their presence, a test of the 200-day SMA, today at 98.33, should not be surprising in the short-term horizon.

DXY daily chart

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