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US Dollar Index Price Analysis: Still targets the 100.00 mark

  • DXY stays bid and keeps its march north to the 100.00 region.
  • The outlook remains positive above the 200-day SMA above 98.00.

DXY is slowly extending the weekly recovery following last week’s deep retracement to the 98.30/25 band.

Bulls appear to have regained the upper hand so far this week and keep pushing higher, maintaining the interim target at the triple-digit barrier ahead of the Fibo retracement (of the 2017-2018 drop) at 100.49.

So far, the bullish view on the dollar remains unchanged as long as the 200-day SMA just above 98.00 holds the downside.

DXY daily chart

 

AUD/USD: Risking a return to 0.58-0.59 – Westpac

AUD/USD is set to remain prey to global risk sentiment, occasionally probing 0.6150/70 but overall biased back towards 0.58 multi-week, per Westpac In
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USD/CNY: Expected to reach 7.15 on a three-month horizon – Nordea

Elevated uncertainty about COVID-19 as well as its impacts on the global economy will likely keep weakening pressure on the yuan against the dollar, a
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