- The US Dollar Index (DXY) gains 0.60% to trade at 104.789, breaking past the 104.000 mark to hit a new five-month high.
- From a daily chart perspective, the DXY shows an upward bias after crossing the 200-day Moving Average at 103.033, with eyes on reclaiming the year-to-date high at 105.882.
- Short-term analysis suggests the DXY needs to clear 104.900 to aim for 105.000, while a recent lower high could signal the potential for a pullback.
The US Dollar Index (DXY) measures the Greenback’s performance against a basket of six currencies, extends its gains past the 104.000 figure, and hit a five-month new high at 104.907. As the Asian session begins, the DXY trades at 104.789 and gains 0.60%.
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