USD Index: Break above 102/102.50 essential to affirm an extension in bounce – SocGen DollarIndex Technical Analysis Banks
consolidates above 101.00 following Tuesday's pullback. Economists at Société Générale analyze DXY's technical outlook.DXY has rebounded after forming an interim trough near 99.60 earlier this month. It is now approaching potential resistance zone of 102/102.50 representing the low of June and a multi-month trend line that capped previous bout of up-move. A break above 102/102.50 would be essential to affirm an extension in bounce.
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