Black Pipper

Forex Dreamers

US Dollar: Immediate target remains at 98.50

The dollar index bounced off 98.50 on Wednesday, leading to a continued downward correction. Should the dollar rise above 98.50, the psychological mark of 99.00 and the 99.25 (high 8th of October) will appear on the radar. Overall, the outlook for the DXY remains positive as long as trading trades above the 200-day SMA, which today stands at 97.60.

Technical Levels

​ S1 98.29
S2 98.18
S3 98.11

R1 98.47
R2 98.54
R3 98.65


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