The dollar index’s intraday charts favor an oversold bounce. The 50-hour SMA located at 90.12 could offer resistance. The dollar index (DXY), which tracks the greenback’s value against majors, is currently trading near 89.90, having hit a 32-month low of 89.73 on Thursday. The 15-minute and hourly charts show a bullish divergence of the Relative Strength Index (RSI). Meanwhile, the 4-hour chart RSI is hovering in oversold territory below 30. As such, the index could jump to the descending 50-hour Simple Moving Average (SMA), currently at 90.12. A violation there would expose the hourly chart hurdle at 90.42. Alternatively, rejection at the 50-hour SMA would reinforce the broader bearish outlook and shift risk in favor of a drop to fresh multi-month lows. Hourly chart Trend: Oversold bounce Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next PBOC sets yuan reference rate at 6.5315 FX Street 2 years The dollar index's intraday charts favor an oversold bounce. The 50-hour SMA located at 90.12 could offer resistance. The dollar index (DXY), which tracks the greenback's value against majors, is currently trading near 89.90, having hit a 32-month low of 89.73 on Thursday. The 15-minute and hourly charts show a bullish divergence of the Relative Strength Index (RSI). Meanwhile, the 4-hour chart RSI is hovering in oversold territory below 30. As such, the index could jump to the descending 50-hour Simple Moving Average (SMA), currently at 90.12. A violation there would expose the hourly chart hurdle at 90.42. Alternatively, rejection… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
