- The DXY adds to the ongoing bounce and approaches 108.00.
- If it continues to go higher, you could see the 100-day SMA again near 109.20.
The US dollar (DXY) it advances for the third session in a row and trades near 108.00 on Monday.
The continuation of the uptrend is targeting the temporary hurdle of the 100-day SMA today at 109.18, ahead of the resistance line around 109.70. Exceeding the latter could cause earnings to pick up in the short term.
As long as it is above the 200-day SMA at 105.11, the outlook for the index should remain constructive. This area is also bolstered by the November low at 105.34 (15 Nov).
DXY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
