US Dollar Index Price Analysis: Immediately to the upside comes 96.43
|- DXY regains the smile amidst renewed risk aversion.
- The weekly high around 96.40 emerges as the next up barrier.
DXY reverses two consecutive daily pullbacks and looks to reclaim the area above the 96.00 barrier on Thursday.
If the recovery gathers steam, then the index is expected to challenge the weekly tops at 96.43 (February 14), which is considered the last defence before an assault to the YTD high near 97.50 (January 28).
In the meantime, further gains in DXY looks likely as long as the 5-month line near 95.30 holds the downside.
In the longer run, the outlook for the dollar is seen as positive above the 200-day SMA at 93.70.
DXY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.