US Dollar Index to reach the 97.00 level on removal of 96.50 – SocGen DollarIndex Banks
has rebounded after dipping towards interim support of 94.60/94.50 representing the peak of October and has reached its highest level in more than two weeks at 96.27. Economists at Société Générale note that a break above 96.50 would open up the 97.00 level and perhaps 97.45.“DXY has crossed above a descending trend line which denotes possibility of further upside towards the peak formed earlier this month near 96.50.
“Failure to defend 95.25, the 61.8% retracement of the bounce can lead to continuation of down move.”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.
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.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Dollar Index Forecast, News and Analysis - FXStreetCheck our updated News for US Dollar Index including real time updates, technical analysis forecast and the economic latest events from the best source of Forex trusted News.
Read more »
US Dollar Index Price Analysis: DXY bulls need validation from 96.00US Dollar Index Price Analysis: DXY bulls need validation from 96.00 By anilpanchal7 DollarIndex Technical Analysis ChartPatterns SwingTrading SupportResistance
Read more »
US Dollar Index Forecast, News and Analysis - FXStreetCheck our updated News for US Dollar Index including real time updates, technical analysis forecast and the economic latest events from the best source of Forex trusted News.
Read more »
GBP/USD Price Analysis: GBP/USD profit taking in play as US dollar stallsAs per the prior analysis, GBP/USD Price Analysis: Bears eye a trip to 1.3450 as per weekly chart, cable has indeed move din on the target area as fol
Read more »
Fredrik Eklund is leaving ‘Million Dollar Listing’ after 11 yearsEklund began starring on “Million Dollar Listing New York” for Season 1 in 2012 and, in 2019, he joined the Los Angeles cast as well.
Read more »
Cardi B Wins Million-Dollar Defamation Verdict Against ‘Malicious’ YouTuberA federal jury sided with Cardi B on her accusations that a YouTuber waged a 'malicious campaign' to hurt the superstar’s reputation.
Read more »