Skip to main content

Dollar index (USDX) rebounds after nailing technical support level at 101.42

On Friday an update here noted the next important Fibonacci support level for the dollar index (USDX). That was at 101.42 and the index subsequently fell to test that price point. In fact it nailed it later too, when dropping to a session low at 101.429. That low coincided with a new rebound high on the EUR/USD, after it took out the previous one, at 1.1019. The high seen on Friday was set at 1.1040. The Dollar index has since lifted from that low this morning, rising to 101.77. It is rather uncertain yet, as to whether a more lasting hold at 101.42 will be seen and whilst rejecting a break below it at the first attempt, a second once cannot yet be ruled out. The index has since drifted back to around 101.70 

Ready to Get Started?

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