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USD DXY Index To Post Limited Corrective Bounce

Summary

USD remains under general pressure

Short-term corrective bounce possible

Further downside risks into the coming weeks

USD DXY Index prices attempting to stabilise.

Limited gains in the USD DXY Index

Short-term corrective bounce possible.

However a close above 97.00 is needed to prompt an Upgrade to Neutral and stabilise price action.

Downside risks still in force.

A later close below 95.40/50 will target the 94.75, (76.4%) Fibonacci retracement.

Our most recent USD DXY Index update for the coming weeks, part of the FX Weekly publication, has been published.

It is available for free via our website

The full report covers #USD #DXY, #gbp, #eur, #aud, #jpy, #cad and #chf

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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.