US Dollar Index Price Analysis: Target is now at 101.00

  • DXY adds to Monday’s gains above the key 100.00 mark.
  • The Fibo level near 100.50 comes next ahead of 101.00.

DXY managed to reclaim the 100.00 barrier and beyond in the second half of the week bolstered by the prevailing risk aversion theme in the global markets.

The continuation of the upside momentum should meet the Fibo retracement (of the 2017-2018 drop) at 100.49 ahead of the more relevant hurdle at  April’s tops in levels just below the 101.00 mark (April 6th).

Furthermore, the constructive bias is expected to remain unchanged above the 200-day SMA, today at 98.24.

DXY daily chart

Get the 5 most predictable currency pairs

About Author

Comments are closed.