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U.S. Dollar Index (DX) Futures Technical Analysis – Supported by 90.385 – 90.100 Retracement ZoneThe early price action suggests the direction of the index on Friday will be determined by trader reaction to 90.385.
Feb 12, 2021 08:37 AM GMT
The U.S. Dollar is edging higher against a basket of major currencies for a second session on Friday after finding support at a short-term retracement zone earlier in the week. Helping to boost the index is a weaker Euro, Japanese Yen and British Pound.
The early move suggests profit-taking is driving the index higher ahead of the weekend. Concerns that the U.S. stock market rally may be running out of steam is also sending a few buyers into the safe-haven greenback.