The USD Index (DXY) continues its ascent today, on the back of rising risk aversion which has pushed capital to seek safe havens in the US Dollar. Yields on the US Treasuries 10-Year Note are ticking upwards once more, after a 2-day drop from 14-month highs. The US 10-year bond yield is trading 1.09% higher as of the time of writing, allowing the DXY to extend the gains of the last three days to push towards three-month highs.
Technical Outlook for USD Index (DXY)
The USD Index (DXY) has hit resistance at the 92.50 point, having met the price projection for the breakout move from the double bottom on the daily chart. Further strengthening of the greenback allows the index to target the 92.803 resistance, with 93.173 serving as an additional target to the north.
On the flip side, a pullback from the current resistance allows the USD Index to target the previous neckline at 91.906 as initial support, with 91.50 and 91.261 serving as additional targets to the south.
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USD Index (DXY) Daily Chart
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