OctaFX | OctaFX Forex Broker
Open trading account

US Dollar Index Asia Price Forecast: DXY rises to its highest since October 2019

  • DXY is up for the fourth consecutive day, trading at four-month highs.
  • Targets to the upside are seen near the 99.00 figure and 99.40 price level.

DXY daily chart

The US dollar index (DXY) is printing fresh 2020 highs while trading above the main simple moving averages (SMAs). 

DXY four-hour chart

After the v-shaped recovery, DXY hit both the 98.20 and 98.50 targets on the way up. As the index is trending up, DXY is set to potentially keep moving north towards the 99.00 figure and the 99.40 level. Support is seen at the 98.20 and 97.85 price levels. 

Additional key levels


OPEC+panel propose 600,000 bpd oil production cut

Delegates of the Organization of the Petroleum Exporting Countries and non-member Russia -- together known as OPEC+ -- have been in a "joint technical
Read more Previous

USD/JPY testing the commitments of the bulls at the critical 110 psychological level

USD/JPY is anchored below the 110 handle while traders ponder as to whether equities and risk appetite is wholly justified at this juncture. USD/JPY i
Read more Next
Start livechat