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8 Oct 2020

US Dollar Index Price Analysis: Looks under pressure below the resistance line

  • DXY extends the side-lined theme around the 93.50/60 area.
  • The 6-month resistance line awaits just above 94.00.

DXY keeps the choppy trade unchanged so far this week, always with the 55-day SMA in the 93.30 area holding the downside for the time being.

A breach of this level should put the key support area around 92.70 back on the radar while occasional bullish attempts are expected to face initial hurdle above the 94.00 barrier, where converge a Fibo level and the 6-moonth resistance line.

While below the 200-day SMA, today at 96.95, the negative view on the dollar is expected to prevail.

DXY daily chart

 

Oct 8, 2020

USD/JPY: Close above the key 55-DMA at 105.80 clears the way for further strength – Credit Suisse

USD/JPY has finally removed key resistance from its 55-day average and downtrend from early June at 105.80 and analysts at Credit Suisse look for furt
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Oct 8, 2020

USD/CAD: Medium-term downtrend to resume on a close beneath 1.3247/42 – Credit Suisse

USD/CAD is breaking its 55-day average at 1.3247/42, channel uptrend and ‘neckline’ to its prior small base to suggest the core bear trend is resuming
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