Mar 18, 2020
US Dollar Index Asia Price Forecast: DXY shoots to 3-year’s high, above 100.00 figure
- DXY surges to highest since February 2017 on de-leveraging.
- The level to beat for bulls is the 102.00 figure.
DXY weekly chart
DXY (US dollar index) is trading at its highest since March 2017 as the greenback is benefitting from an exceptional buying wave as massive de-leveraging is triggering a run into the US dollar.
DXY daily chart
Only two weeks back, DXY sold off which was then followed by the best weekly advance since October 2008.
DXY four-hour chart
The bullish trend remains intact as the market is trading above the main SMAs. Bulls will be looking for a break above the 102.00 figure which could introduce scope to the 103.00 and 104.00 handles over the coming days/weeks. Support can be seen near the 100.50, 100.00 and 99.50 levels on the way down.
Additional key levels