- DXY fades Thursday’s modest advance and retests 96.00.
- If the bulls wake up, the next target is nearing 96.50.
The DXY (US Dollar Index) alternate losing earnings at / above 96.00 ahead of key US non-farm payrolls on Friday.
If buying interest gathers momentum, the index should initially target the area of ​​cumulative yearly highs near 96.50 to allow further gains to 96.90 (Dec 15) and 2021 high at 96.93 (Nov 24).
Meanwhile, as long as it is above the 4-month support line (away from the September low) around 95.00, more rally for the DXY is likely. Looking at the bigger picture, the longer-term positive stance remains unchanged above the 200-day SMA at 93.06.
DXY daily chart
Technical levels
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