US Dollar Index Price Analysis: Looks consolidative near-term
|- DXY extends the side-lined trading above 90.00 on Friday.
- Further upside targets the 2021 high near 90.70.
DXY remains in a consolidative-mode and manages well to keep the trade above the 90.00 mark for the time being.
If bulls regain control of the sentiment on a more serious stance, then the index could re-visit the so far YTD tops in the 90.70/75 band ahead of the weekly high in the 91.00 region (December 21). Above this level, the prevailing downside pressure is expected to mitigate somewhat.
In the longer run, as long as DXY trades below the 200-day SMA, today at 94.50, the negative view is forecast to prevail.
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.