Skip to main content

Dollar index (USDX) on the rebound so far this morning

On Thursday last week the pressure on the Dollar index (USDX) saw it fall to its lowest levels since peaking a couple of months earlier, at 107.34. The index fell back to 100.61. That move was covered here at the time and meant the dollar came close to its lows seen back in July, when it had based out then at 99.57. The fall to 100.61 last week came after it busted below a noted Fibonacci support level at 101.42, but it is back above that level now. The index has lifted above 101.55 today and has the upper hand so far this morning, as the EUR/USD right now edges back to session lows once more. The EUR/USD has in fact, just set a new session low a moment ago at 1.1015. The price action there is jittery though and support at 1.10 is still a major factor in deciding if the Dollar index can advance further from here, in what still looks like a corrective, but not a dynamic rebound move. 
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!