8 May 2019
US Dollar Index Technical Analysis: The 97.15/04 band should hold the downside near term
- DXY is attempting a sideline theme in the lower end of the weekly range in the mid-97.00s, where sits the 21-day SMA.
- In case the selling impulse picks up pace, last week’s low at 97.15 should offer interim contention. This area of support is reinforced by the 55-day SMA at 97.04.
- Looking at the broader picture, the positive bias in the buck is seen unchanged while above the critical 200-day SMA, today at 96.24.
DXY daily chart
