As I have written on several occasions a key level for the USD index has been the 90 price point, around which the index has been trading since February this year. The high so far has been 90.89 and the low 88.15, and as the index is once again approaching this year’s high, I thought it would be useful to look at some levels the index needs to breach if the current bullish tone is to continue.
And the first level to consider is at 90.80 which the index needs to break and hold above as this would open the way to 91.11. And a successful break here would see the DXY move on to 91.41, and if bullish momentum were to continue further could see the index close out April in the 92.20 region. It’s best performance to date.
However, a failure to hold above the 90.80 price point would see the DXY once more back down to the 90 levels where further consolidation awaits.
By Anna Coulling
Anna its all fake news, the lot is going to crash around us.