- The DXY index hits 2021 highs above the 93.00 level on Tuesday.
- Higher up, the November 2020 high is pointed to around 94.30.
The DXY index extends the move to the upside and finally breaks above the round 93.00 level on Tuesday.
Against this, a continuation of the uptrend seems likely on the short-term horizon. That said, there are no relevant upward barriers until the November 2020 highs in the 94.25 / 30 region.
The downward pressure around the DXY index appears eased after the recent breakout of the 200-day SMA at 92.52. If the DXY index manages to stay above the latter on a sustainable basis, then the outlook should change to constructive, at least in the short term.
US dollar index daily chart
US dollar index technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
.jpeg "Nature holidays: on a sailing boat to the Pontine Islands with WWF experts")
.jpg "Megan Fox and “compartmentalization”, the self-defense mechanism that was triggered after suffering violence")
