- 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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