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Indices | USD Buyers Ready to Test Resistance Again?

Published: 05.06.2023
by Joseph Jeffriess

Today’s focus: USD Index

Pattern – Continuation

Possible targets – 105.60

Support – 103.40

Resistance – 104.20

Today’s update is on the USD index. Do we have a new uptrend? For us, we want to see resistance beaten. If we can see a break, this could set up a new move to 105.60, and a break of that level takes the price out of its consolidation range and gets an uptrend going. We have a short-term up trend for now, but buyers have more work to do to confirm it overall.

If we see a new retracement, we want to see support hold. A move back to 102.70 is a worry if you’re on the short-term bull side. With momentum back in the buyer’s court, will we see a break of resistance?

USD Index analysis

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