The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
US Dollar Index trending higher
EUR/USD strength has pushed the Dollar Index higher, with new found support at $97.33. The creation of new highs and higher lows is new expected to continue, with price action confirmed by the stochastic oscillator. As the stochastic turns higher, the price too is expected to push higher, with $97.69 and $98.05 the two near-term resistance levels in view. Any move lower is likely to be capped by $97.33.