USD Index: Strength from January was corrective, retest of the 100.82 YTD low on the cards – Credit Suisse

The US Dollar is turning lower as looked for. Economists at Credit Suisse maintain a negative stance.

Strength in the USD from early January has been a corrective move higher

“We maintain our view that strength from January was corrective. We still look for a break below the 102.59 mid-February low to further reinforce our view for a retest of the 100.82 YTD low, then we think the 61.8% retracement of the 2021/2022 uptrend at 98.98.”

“Resistance at 105.10 now ideally caps to keep the immediate risk lower. Above can see a retest of 105.88/106.64.”