Home US Dollar Index Price Analysis: Extra recovery targets the 94.70 region

US Dollar Index Price Analysis: Extra recovery targets the 94.70 region

Updated: 30 Sep. 2020 | 12:32

DXY bounces off lows and regains the 94.00 mark on Wednesday.
Next on the upside emerges the 94.50/70 band.

DXY appears to have met some decent contention in the sub-94.00 area so far this week and manages to regain some composure on the back of the resumption of the risk aversion mood.

Further north of the 94.00 mark there is an interim hurdle in the 6-month resistance line near 94.50 ahead of 2-month peaks in the 94.70/75 band (September 25).

While below the 200-day SMA, today at 97.05, the negative view on the dollar is expected to prevail.

DXY daily chart

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