Skip to main content

Dollar index (USDX) reclaims 104.00 as EUR/USD closes in on support at 1.0862

As noted in the previous update, the dollar sure is on the rebound right now and that has delivered a fresh low for the EUR/USD, as it falls closer to the noted first support level at 1.0862. This in turn is seeing a return to above 104 in the dollar index (USDX) for the first time this week. The move higher has also delivered further upside in the USD/CNH and I remind what was said about that pair and the Chinese economic outlook yesterday. The USD/CNH is now closer to the 7.17 handle this afternoon. The USD/JPY is gaining further traction too and close to the next potential resistance level (also touted here earlier today), at 149.53. 

Ready to Get Started?

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