DXY reaches a new 2022 high and trades at the highest since June 2020

The USD is now the strongest of the key currencies and in doing so, the greenback index (DXY) can be making a brand new excessive for the 12 months. The index trades on the highest degree since June 2020.

Trying on the every day chart, the following main upside goal on additional upside momentum can be the 61.8% of the transfer down from the March 2020 excessive at 97.727. Simply above that’s the June 30 excessive at 97.802.

Trying on the particular person forex pairs:

• The EURUSD is buying and selling to a brand new low at 1.1135 and will get nearer to the 2022 low at 1.11217
• The GBPUSD fell beneath the swing space between 1.33524 and 1.33757. The break decrease has now pushed the value down towards the 1.3300 degree. The low worth simply reached 1.3311
• The USDJPY has pushed above its week highs and 200 hour transferring common between 115.15 and 115.23 . The worth can be moved above the 50% midpoint of the as soon as buying and selling vary at 115.369. The excessive worth simply reached 115.45
• The USDCHF is buying and selling at its a brand new excessive at 0.92649. The following goal is available in at 0.9272 to 0.92767