Home US Dollar Index Price Analysis: Next target on the upside is at 94.80

US Dollar Index Price Analysis: Next target on the upside is at 94.80

Updated: 23 Sep. 2020 | 12:52

DXY finally breaks above the 94.00 barrier on Wednesday.
The resistance line near 94.80 emerges as the next interim hurdle.

The persistent upside momentum in the dollar pushed DXY to fresh multi-week peaks above the 94.00 yardstick on Wednesday.

The continuation of this trend now targets the 94.80 region, where sits the 6-month resistance line ahead of other minor hurdles at the 100-day SMA (95.64) and a Fibo level at 96.03.

The bearish view on DXY is seen unchanged while below the 200-day SMA, today at 97.13.

DXY daily chart

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