Select Language

US Dollar Index Price Forecast: Treads water above 99.00 near nine-day EMA barrier

Breaking news

US Dollar Index Price Forecast: Treads water above 99.00 near nine-day EMA barrier

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.06.04 11:48
US Dollar Index Price Forecast: Treads water above 99.00 near nine-day EMA barrier

update 2025.06.04 11:48

  • The US Dollar may target its initial support at 97.91, the lowest level since March 2022.
  • Technical analysis suggests a prevailing bearish bias as the RSI remains below the 50 level.
  • The nine-day EMA at 99.38 appears as the immediate barrier.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is edging lower after registering over 0.5% gains in the previous session and trading around 99.20 during the Asian hours on Wednesday.

On the daily chart, technical analysis suggested a persistent bearish bias, with the index consolidating within a descending channel pattern. The DXY remains below the nine-day Exponential Moving Average (EMA), indicating that short-term momentum is weaker. Additionally, the 14-day Relative Strength Index (RSI) is positioned below the 50 level, indicating the prevailing bearish bias.

On the downside, the DXY could navigate the area around 97.91, the lowest level since March 2022, which was recorded on April 21, aligned with the lower boundary of the descending channel around 97.80.

The US Dollar Index may target the immediate barrier at the nine-day EMA of 99.39, followed by the descending channel's upper boundary around 100.30. A breach above this crucial resistance zone could cause the emergence of the bullish bias and lead the index to test the 50-day EMA at the 100.81 level. Further advances would reinforce the short-term price momentum and prompt the DXY to explore the region around the three-month high at 104.37, reached on April 1.

US Dollar Index: Daily Chart

US Dollar PRICE Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.03% -0.02% 0.06% -0.02% -0.03% -0.06% -0.04%
EUR 0.03% -0.01% 0.07% 0.00% 0.00% -0.04% -0.02%
GBP 0.02% 0.00% 0.02% 0.00% 0.01% -0.03% -0.01%
JPY -0.06% -0.07% -0.02% -0.05% -0.13% -0.05% -0.06%
CAD 0.02% -0.01% -0.00% 0.05% -0.01% -0.05% -0.03%
AUD 0.03% -0.00% -0.01% 0.13% 0.01% -0.04% -0.02%
NZD 0.06% 0.04% 0.03% 0.05% 0.05% 0.04% 0.02%
CHF 0.04% 0.02% 0.01% 0.06% 0.03% 0.02% -0.02%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).


Date

Created

 : 2025.06.04

Update

Last updated

 : 2025.06.04

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

AUD/JPY Price Forecast: Rallies above 93.00 on risk appetite, as bullish engulfing pattern looms

The AUD/JPY prolonged its gains on Thursday and edged up over 0.76% amid a risk-on impulse sparked by news that the US and China might reach an agreement as President Trump spoke with China's President Xi Jinping during the day. At the time of writing the cross-pair trades at 93.30.
New
update2025.06.06 07:09

Canadian Dollar continues to gain ground, but momentum is fizzling

The Canadian Dollar (CAD) tested fresh eight-month peaks against the US Dollar (USD) on Thursday.
New
update2025.06.06 05:02

Mexican Peso strengthens ahead of Friday's NFP data, with US-Mexico relations in focus

The Mexican Peso (MXN) is on track to extend its winning streak for a second consecutive session against the US Dollar (USD) on Thursday. 
New
update2025.06.06 04:39

WTI Price Forecast: WTI Crude Oil holds gains above $62, momentum builds for further upside

West Texas Intermediate (WTI) crude oil extends its recovery on Thursday, building on early week gains as bulls capitalize on a bullish flag breakout. At the time of writing, WTI is trading around $62.80, up nearly 1.20% on the day, and just below the intraday high of $63.30.
New
update2025.06.06 04:10

Forex Today: Could Nonfarm Payroll figures save the US Dollar?

The Greenback bounced off its weekly lows of 98.35 as China's media reported a call between US President Donald Trump and China's President Xi Jinping. Both parties mentioned the call was good and focused on trade policies and rare earths.
New
update2025.06.06 04:01

EUR/USD holds above 1.1440 as ECB cuts rates; focus shifts to US NFP data

EUR/USD holds onto earlier gains of over 0.20% after the European Central Bank (ECB) grabbed the headlines, reducing rates but leaving the door open for a pause at the upcoming July 24 meeting. At the time of writing, the pair trades at 1.1441 after bouncing off daily lows of 1.1404.
New
update2025.06.06 03:59

Fed's Schmid: I expect tariffs to start to show through to prices in the coming months

Federal Reserve (Fed) Bank of Kansas City President Jeff Schmid took a slightly different approach to other Fed officials who also spoke on Thursday, but still remains focused on the overall difficulty of manipulating Fed policy rates in an uneasy post-tariff environment.
New
update2025.06.06 02:55

Fed's Harker: Amid uncertainty, the Fed must wait and see on next policy steps

Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker added his own perspective to comments from other Fed officials earlier in the day, noting that whiplash trade policies from the Trump administration are making it difficult for Fed officials to move on policy rates.
New
update2025.06.06 02:52

Dow Jones Industrial Average remains in consolidation as markets look ahead to NFP jobs data

The Dow Jones Industrial Average (DJIA) held steady on Thursday, chugging quietly near the previous day's closing bids.
New
update2025.06.06 02:49

Gold slips as Trump-Xi call eases trade tensions, markets await US NFP

Gold price pared its earlier gains after breaking news revealed that the call between US President Donald Trump and his Chinese counterpart, Xi Jinping, was positive, with the two primarily discussing trade, according to Trump. At the time of writing, XAU/USD trades at $3,350, down 0.72%.
New
update2025.06.06 02:31

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel