Forex News

16:45:18 04-12-2023

USD Index Price Analysis: Further gains likely above 103.57

  • DXY resumes the upside and approaches 103.80.
  • Extra upside looks likely once the 200-day SMA is cleared.

DXY regains the smile and advances to multi-day highs past 103.70 on Monday.

If the key 200-day SMA (103.57) is surpassed, the index is expected to face more sustained gains to, initially, the weekly top of 104.21 (November 22) ahead of the transitory 100-day SMA at 104.37.

In the meantime, above the key 200-day SMA, the outlook for the index is expected to shift to bullish.

DXY daily chart


News provided by the portal FXStreet