简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The direction of the June U.S. Dollar Index on Friday is likely to be determined by trader reaction to the 50% level at 91.870.
The U.S. Dollar is inching lower against a basket of major currencies early Friday after giving back earlier gains as investors continue to monitor U.S. Treasury yields for direction. On Thursday, the greenback surged against its peers, supported by higher yields and safe-haven buying tied to a plunge in U.S. equity markets. Meanwhile, investors continue to assess the Federal Reserves pushback against expectations of any early changes to current policy, especially when it comes to hiking interest rates.
At 06:44 GMT, June U.S. Dollar Index futures are trading 91.865, down 0.005 or -0.01%.
Helping to support the dollar index was a brief dip in the Japanese Yen after the Bank of Japan widened its target band for the benchmark yield in a decision that was in line with market expectations.
Daily June U.S. Dollar IndexDaily Swing Chart Technical Analysis
The main trend is down according to the daily swing chart. A trade through 92.045 will change the main trend to up. A move through 91.290 will reaffirm the uptrend.
On the upside, potential resistance is a series of retracement levels at 91.870, 92.200 and 92.510.
On the downside, potential support is a pair of retracement levels at 91.620 and 91.350.
The short-term range is 89.655 to 92.530. Its retracement zone at 91.095 to 90.755 is the primary downside target.
The direction of the June U.S. Dollar Index on Friday is likely to be determined by trader reaction to the 50% level at 91.870.
Bullish Scenario
A sustained move over 91.870 will indicate the presence of buyers. This could trigger a move into 92.045. Taking out this level will change the main trend to up. This could trigger a rally into 92.200, followed by the resistance cluster at 92.510 to 92.530.
Bearish Scenario
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.