The US Dollar Index (DXY) had a rough ride last week with US Dollar bulls being steamrolled twice by the Japanese government’s intervention in the USD/JPY pair. Although a near $60 billion in cash got burned, according to Bloomberg, to get USD/JPY from 160.00 to 151.86, it brought the US Dollar Index to the 55-day Simple Moving Average (SMA) at 104.52. This is the level where Dollar bulls were eager to get in and triggered a firm bounce in both the DXY and the USD/JPY pair, with room for further recovery.
On the upside, 105.52 (a pivotal level since April 11, 2024) needs to be recovered first through a daily close above this level before targeting the April 16 high at 106.52 for a third time. Further up and above the 107.00 round level, the DXY index could meet resistance at 107.35, the October 3 high.
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
