HomeForex UpdatesUS Greenback Index Outlook: Greenback is Set for Additional Advance

US Greenback Index Outlook: Greenback is Set for Additional Advance

Bulls are consolidating below new two-decade excessive however stay in play and place for additional advance.

The greenback is supported by sturdy Fed charge hikes and hawkish stance that indicators additional motion, in addition to safe-haven demand on financial and geopolitical uncertainty, whereas Euro stays fragile, and yen is about for additional weak spot that provides to optimistic indicators for the dollar.

Technical research are optimistic and help the motion, as rising every day cloud and powerful bullish momentum underpin.

The greenback could maintain in prolonged consolidation earlier than bulls regain traction for renewed assault at 105.54 peak, with sustained break to sign bullish continuation and expose Fibo projections at 107.13 and 109.20 (123.6% and 138.2% respectively).

Dips ought to keep above rising 10DMA (103.89) to maintain bulls intact.

Res: 104.54; 104.87; 105.26; 105.54.
Sup: 103.89; 103.62; 103.16; 102.92.

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