Mar 11, 2020
US Dollar Index Asia Price Forecast: Greenback comes back, bounces from 2020 lows
- DXY is about to end the New York session near its high tick.
- Support is seen at the 96.00 and 95.00 figures.
DXY daily chart
After suffering its worst decline in many months DXY (US dollar index) is bouncing from the 2020 lows while regaining the 96.00 figure. DXY is boosted on hopes that the US will deliver on a fiscal stimulus.
DXY four-hour chart
DXY is trading below the main SMAs suggesting a bearish bias in the medium term, however, the market is trying to push higher and a break above the 96.50 could lead to an extension of the pullback up. Resistances are seen near the 97.50 and 98.25 levels while support is seen near the 96.00 and 95.00 figures.