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US Dollar Index: Scope to reach the 121.02 high of 2011 – Credit Suisse

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The US Dollar Index (DXY) might also but see longer consolidation at key resistance, however economists at Credit Suisse hold their core bullish outlook.

Support is considered transferring to 107.59 initially
“The DXY is seeing a concerted retest of primary resistance and our intervening time upside goal at 109.25/110.25. With the market additionally returned at the higher quit of its ‘typical’ excessive (9% above the 40-week average), a sparkling pause from right here have to be allowed for.”

“Big picture, with a five-year bull ‘triangle’ executed in April, we proceed to seem to be for an eventual wreck greater with resistance viewed subsequent at 111.31, beforehand of 115.30 and subsequently the 121.02 excessive of 2001.”

“Support is viewed shifting to 107.59 at the start with 106.31 now ideally holding.”

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