US Dollar Index Technical Forecast


The greenback, measured by the US Dollar Index (DXY), is alternating gains with losses in the middle of the week, although it so far manages well to keep business above 90.00 the figure. What impact is the US-China trade issue having on the index? Find out with this 4 April US Dollar Index Technical Forecast.

4 April, GKFX – The index is looking to clinch its third consecutive daily advance today, at the same time adding further sustainability to the recent breakout of the psychological 90.00 milestones.

US-China trade issues keep dominating the price action so far

In the meantime, US-China trade issues keep overlooking the sentiment in the global markets, while a mild bias towards the risk-on trade pushed yields of the key US 10-year reference to the upper end of the weekly range near 2.79%.

In the US data space, the ADP jobs report is next on tap seconded by Factory Orders, Durable Goods Orders and the ISM Non-manufacturing for March. Further events will see speeches by St.Louis Fed J.Bullard (2019 voter, centrist) and Cleveland Fed L.Mester (voter, hawkish).

4 April US Dollar Index Technical Forecast

As of writing the index is up 0.03% at 90.21 and a break above 90.44 (high Mar.20) would target 90.93 (high Mar.1) and finally 91.00 (high Jan.18). On the flip side, next contention lies at 88.94 (low Mar.27) seconded by 88.44 (low Jan.26) and then 88.25 (2018 low Feb.16).

Disclaimer

This article 4 April US Dollar Index Technical Forecast was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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