USD Index to see further short-term weakness – Credit Suisse
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The US Dollar Index touched its lowest level in seven months at 102.94. Economists at Credit Suisse expect DXY to find a floor at what looks to be better support at 102.99/101.99.
“We continue to look for further weakness in Q1 to a cluster of supports in the broad 102.99/101.99 support zone – the March 2020 high, 50% retracement of the 2021/2022 uptrend and back of the five-year ‘triangle’ pattern. We continue to look for an important low here.”
“Should weakness directly extend below 101.99 and then 101.30 we would see scope for the sell-off to extend to the 50% retracement at 98.98.”
“Resistance for the current rebound is seen at 105.63 initially, then 106.20/25 with 108.00 ideally capping.”
[/s2If]
Join Our Telegram Group
