Fx News

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

Creative concept of USD symbols illustration and finger clicks on a digital tablet on background. Trading and currency concept. Multiexposure

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.”

Related posts
Fx News

USD/CAD Price Analysis: Sellers attack 1.3660 support confluence to open 100-pip fall

USD/CAD holds decrease floor close to intraday backside at some point of the first loss-making day…
Read more
Fx News

GameStop’s premarket surge has investors wondering if squeeze is back on

GME inventory is up on Wednesday after the gaming retailer swung to its first underlying internet…
Read more
Fx News

US Dollar Index Price Analysis: DXY bears appear well-set to visit 102.65-55 zone despite pre-Fed inaction

US Dollar Index grinds close to five-week low, probes bears after four-day downtrend. Bearish MACD…
Read more
Newsletter
Become a Trendsetter
Sign up for Davenport’s Daily Digest and get the best of Davenport, tailored for you.

Leave a Reply

Your email address will not be published. Required fields are marked *