USD Index to see a lengthier but still temporary recovery phase – Credit Suisse DollarIndex Banks
“DXY has edged above the 55-DMA at 103.45. This leaves us mildly biased towards a slightly deeper recovery to 105.63, potentially the 38.2% retracement of the 2022/2023 fall and 200-DMA at 106.15/45. We would expect this to prove the extent of the recovery though, and we would look for this to cap to define the top of a broader range.”
“Post this consolidation phase, our bigger picture view remains that the market will eventually resolve its recent range lower, triggering further weakness later on in the year to test 99.82/37, then the 61.8% retracement at 98.98.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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