US President Trump announces additional tariffs on China sending USD down. The correction down can reach 98.38, 98.10 and potentially 97.80. DXY daily chart DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). On Wednesday DXY rose as the Federal Reserve made a hawkish cut of 25bps. This Thursday US President Trump announced new tariffs on China, sending USD down across the board. Interestingly, Fed’s Chair Powell said the trade war was the reason for the interest rate cut. DXY 4-hour chart DXY is trading above its main SMAs, suggesting bullish momentum in the medium term. However the market is retracing down sharply and the bulls would need to regain the 98.68 resistance to trade towards 98.93, the 2019 high. DXY 30-minute chart DXY is testing the 98.38 support and the 100 SMA while trading below the 50 SMA, all-in-all suggesting a correction down in the near term. The move down can extend towards 98.38, 98.10 and 97.80 if the bears gather enough steam. Additional key 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 NZD/USD erases daily gains to mid-0.65s on US-China trade war headlines FX Street 4 years US President Trump announces additional tariffs on China sending USD down. The correction down can reach 98.38, 98.10 and potentially 97.80. DXY daily chart DXY (US Dollar Index) is trading in a bull trend above its main daily simple moving averages (DSMAs). On Wednesday DXY rose as the Federal Reserve made a hawkish cut of 25bps. This Thursday US President Trump announced new tariffs on China, sending USD down across the board. Interestingly, Fed's Chair Powell said the trade war was the reason for the interest rate cut. DXY 4-hour chart DXY is trading… 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.
