Skip to main content

Dollar index USDX) reclaims 104 for the first time this year

The rise in the US currency on Friday was initially led by the USD/JPY, but eventually it spread across the board and that allowed the USD index (USDX) to rise above 104.00 for the first time this year. The index reached 104.04 before later edging back to close the week at 103.96. That close was just below a noted Fibonacci level at 103.98. If the dollar can extend further above 104 this week, the next notable technical levels are at 104.31 and then at 104.77. The first being the 100 day moving average and the second being the next Fibonacci level (61.8% of the fall from 107.34, to the end December low at 100.61). The index closed well above its 200 day moving average on Friday (then in place at 103.55). The index has pushed higher today, reaching 104.18 earlier on, but it is off that high now, currently trading at around 104.03 
 

Ready to Get Started?

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