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DXY eyes key resistance at 99/99.40 after trendline rebound - Scotiabank
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DXY eyes key resistance at 99/99.40 after trendline rebound - Scotiabank
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2025.07.29 18:25
2025.07.29 18:25
2025.07.29 18:25
The Dollar Index is staging a recovery after defending its long-term uptrend near 96.40. A higher low at 97.10 and bullish MACD divergence point to fading downside momentum, with focus now shifting to key resistance near 99/99.40, Standard Chartered's economist report.
DXY bounce targets September 2024 lows
"The Dollar Index has rebounded after testing its multiyear ascending trend line at 96.40. It recently established a higher trough at 97.10 and moved above the 50-DMA. A positive divergence on the daily MACD indicates diminishing downward momentum."
"The index is approaching the June peak at 99/99.40, which may serve as interim hurdle. A break above this could trigger an extended rebound toward September 2024 low of 100.90 and 102. In the near term, the recent higher low at 97.10 serves as key support."
Last updated
: 2025.07.29
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