US Dollar Index Price Analysis: DXY bears taking a breather, trading sub-97.00 level

DXY is having a modest rebound on the Nonfarm Payrolls day. However, the greenback remains limited by the 97.00 resistance while maintaining a strong bearish b  |  05/06/2020 20:34
  • US Dollar Index (DXY) gets a small bounce on the Nonfarm Payrolls day. 
  • DXY remains limited by the 97.00 resistance.
 

DXY four-hour chart

 
DXY is having a modest rebound on the Nonfarm Payrolls day. However, the greenback remains limited by the 97.00 resistance while maintaining a strong bearish bias in the medium-term. As the sellers remain in control, the index can extra losses below the 96.60 support en route towards the 95.90 and 95.43 levels. Resistance is seen near the 97.00, 97.50 and 97.80 price levels initially. 
   
   

Additional key levels

 

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