Home US Dollar Index Technical Analysis: The Greenback risks a test to the 21-day SMA at 98.64
FXStreet News

US Dollar Index Technical Analysis: The Greenback risks a test to the 21-day SMA at 98.64

  • The bearish sentiment remains intact around the Greenback, forcing DXY to break below the key support at 99.00 the figure.
  • A negative surprise at today’s Payrolls could spark further weakness towards, initially, the 21-day SMA at 98.64. This area of contention matches weekly lows recorded on Thursday.
  • In the meantime, while above the 55-day SMA at 98.26, the likeliness of a recovery to 99.00 and above remains well on the cards.

DXY daily chart

 

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.