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Home ANALYSIS

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

A.R Chowdhury by A.R Chowdhury
February 28, 2022
Reading Time: 2 mins read
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DXY reaches a new 2022 high and trades at the highest since June 2020

US dollar

The US dollar is now the strongest of the major currencies

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The USD is now the strongest of the major currencies and in doing so, the dollar index (DXY) is also making a new high for the year. The index trades at the highest level since June 2020.

Dollar index

The dollar index trades to a new 2022 high

Looking at the daily chart, the next major upside target on further upside momentum would be the 61.8% of the move down from the March 2020 high at 97.727. Just above that is the June 30 high at 97.802.

Looking at the individual currency pairs:

  • The EURUSD is trading to a new low at 1.1135 and gets closer to the 2022 low at 1.11217
  • The GBPUSD fell below the swing area between 1.33524 and 1.33757. The break lower has now pushed the price down toward the 1.3300 level. The low price just reached 1.3311
  • The USDJPY has pushed above its week highs and 200 hour moving average between 115.15 and 115.23 . The price is also moved above the 50% midpoint of the once trading range at 115.369. The high price just reached 115.45
  • The USDCHF is trading at its a new high at 0.92649. The next target comes in at 0.9272 to 0.92767
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A.R Chowdhury

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