USD Index: Break above 102/102.50 essential to affirm an extension in bounce – SocGen DollarIndex Technical Analysis Banks
consolidates above 101.00 following Tuesday's pullback. Economists at Société Générale analyze DXY's technical outlook.DXY has rebounded after forming an interim trough near 99.60 earlier this month. It is now approaching potential resistance zone of 102/102.50 representing the low of June and a multi-month trend line that capped previous bout of up-move. A break above 102/102.50 would be essential to affirm an extension in bounce.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NZD/USD sticks to gains above 0.6200 amid modest USD pullback from two-week highThe NZD/USD pair rebounds nearly 35 pips from the Asian session low and turns positive for the second straight day on Tuesday. Spot prices currently t
Read more »
USD Index comes under pressure near 101.40, looks at data, FedThe greenback, in terms of the USD Index (DXY), faces some selling pressure after hitting new multi-session peaks in the 101.40/45 band on turnaround
Read more »
USD Index Price Analysis: Scope for further advanceDXY picks up further impulse and records new multi-session peaks around 101.60 on Tuesday. The index should clear the 102.60 zone, where the provision
Read more »
USD Index extends the correction and challenges 101.00 ahead of FOMCThe greenback, in terms of the USD Index (DXY), remains offered and trades close to the 101.00 region on Wednesday. USD Index focused on the Fed The i
Read more »
USD/CHF reclaims the 0.8700 mark as USD gains momentumThe USD/CHF pair gains traction on Tuesday. The pair is trading at 0.8700, up 0.03% after hitting a low of 0.8637. Investors will focus on the Federal
Read more »
AUD/USD rises to 0.6770 area on more stimulus promises from China, modest USD downtickAUD/USD rises to 0.6770 area on more stimulus promises from China, modest USD downtick – by hareshmenghani AUDUSD China Fed EconomicIndicator Currencies
Read more »