US Dollar Index to extend its rise towards next resistance at 108 – Westpac

The US Dollar Index (DXY) uptrend remains intact, next targeting the 108 area. Positive momentum is likely to persist until the Fed’s front-loaded pol  |  07/07/2022 09:18

The US Dollar Index (DXY) uptrend remains intact, next targeting the 108 area. Positive momentum is likely to persist until the Fed’s front-loaded policy tightening cycle is nearer conclusion, according to economists at Westpac.

DXY technicals remain bullish

“The USD should remain underpinned by key events during the week ahead, with neither likely to derail the Fed from hiking by 75 bps later this month.”

“The DXY uptrend should remain intact until the Fed’s cycle is mostly complete.”

“Some resistance may be encountered at 108, but technicals alone suggest even higher potential given the break in June above a five-year old contracting range.”

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on FX
and other asset classes for Market Insight viewers

RISK WARNING

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

  • ForexF
  • IndicesI
  • CommoditiesC
        Back

        Login to Market Insight Account

        Your Market Insight account gives you access to the tools that we offer our customers including our
        Technical Studies & Sentiment for your accounts.

        Forgot Password?

        Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

        Create a Market Insight's Account

        Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

        register_ty

        Thank you!

        Welcome to Market Insight family!

        You have succesfully completed the registration.
        We will send you an e-mail to give you some
        instructions and our Terms and Conditions!
        Our account representatives will be contacting you as
        soon as possible. If you have any further questions
        please do not hesitate to mail us via info@marketinsight.com