OctaFX | OctaFX Forex Broker
Open trading account
Back

US Dollar Index Price Analysis: Correction lower could test the mid-98.00s

  • The rally in DXY run out of some steam near the 99.20 level.
  • The next target on the upside remains at 99.37 (September 3rd 2019).

DXY is losing some momentum after being rejected once again from YTD peaks near 99.20 earlier in the session.

The current overbought levels in the dollar coupled with the better mood in the riskier assets could motivate the index to extend the corrective downside to, initially, the November 2019 top at 98.54 in the near-term.

Looking at the broader picture, the constructive perspective on the dollar is seen unaltered as long as the 200-day SMA at 97.77 underpins.

DXY daily chart

 

EUR/CHF: CHF net positions remained in positive territory for four consecutive weeks – Rabobank

Jane Foley, a Senior FX Strategist at Rabobank, reviews the Commitment of Traders report highlighting the positive net positions on the Swiss franc. E
Read more Previous

EUR/USD Price Analysis: Rebound eyes the 21-day SMA at 1.0988

The sharp pullback in EUR/USD seems to have met contention in the 1.0830/25 band, or new 2020 lows recorded at the end of last week. Extreme “oversold
Read more Next
Start livechat