3 Jun 2020
US Dollar Index Asia Price Forecast: DXY keeps moving down, trades near 97.25 level
- US Dollar Index (DXY) remains under bearish pressure near levels last seen in mid-March this year.
- The level to beat for sellers is the 97.00 figure.
DXY four-hour chart
DXY keeps sinking while breaking below the 97.50 level. As the sellers remain in control, the greenback can extend losses especially on a break beyond the 97.00 support en route towards the 96.60 level. However, as the market can be oversold, a counter-trend move up cannot be ruled out. Resistance can be seen near the 97.50, 97.80 and 98.00 price levels initially.
Additional key levels