USD Index expected to break below 101.99/30 in due course – Credit Suisse DollarIndex Banks
around key technical levels. However post this pause, there is scope for a deeper short-term selloff in the USD.“The DXY decline is now showing signs of tiring around key support at 101.99/30 – the 50% retracement of the 2021/2022 uptrend and May 2022 low. We continue to look for this to hold for now and for a consolidation recovery phase to emerge.”
“Above 102.90 is needed to add weight to the potential for a pause, with resistance then seen next at 103.49, before the 55-day average, now at 104.95, which we look to be tough resistance.”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.
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