9 Apr 2020
US Dollar Index Asia Price Forecast: DXY ending session below 100.00 mark on Fed surprise
- US dollar index (DXY) consolidates gains below the 100.00 mark.
- Support could emerge near the 99.50 and 99.00 price levels.
- The level to beat for bulls is the 100.00 level.
DXY daily chart
DXY is trading in a bull trend above its main daily SMAs (simple moving averages), however, the buck is losing some traction below the 100.00 figure this Thursday as the Fed decided to inject $2.3 trillion in additional loans while US jobless claims came in above 6.6 million.
DXY four-hour chart
DXY dipped below the 100 mark and below the 50/100 SMAs but still above the 200 one suggesting that the uptrend stays intact. The buck is finding some support near the 99.50 level and a bounce can see bulls attempting to regain the 100.00 figure and above. Further down, support is seen near the 99.00 and 98.30 levels.
Additional key levels