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Trading news
7 Feb 2020
US Dollar Index Price Analysis: Next stop turns up at 98.93
- DXY pushes higher and prints new 2020 highs beyond 98.60.
- Next on the upside aligns the August 1st 2019 peak at 98.93.
The rally in the dollar stays everything but abated at the end of the week and is encouraging DXY to advance to the 98.60/65 band, reaching at the same time new 4-month tops.
If the upside impetus accelerates, then there are no significant hurdles until 98.93 (August 1st 2019).
While above the 200-day SMA, the outlook on DXY should remain constructive.
DXY daily chart
