FxWirePro: DXY Daily Outlook

Ichimoku Analysis (4-hour chart)

Tenken-Sen- 90.46

Kijun-Sen- 90.37

US Dollar index is trading weak after a minor jump till 91.01. The new virus stain in the UK has increased demand for safe-haven assets like the dollar. But the new stimulus of $900 billion is putting pressure on the dollar at higher levels. Markets eye Brexit talks and coronavirus update for further direction. Short term trend on DXY is still 90.28.

On the higher side, near-term resistance is around 90.45, convincing violation above targets 90.62/90.90. Significant bullishness only if it closes above 91.50.

The index is facing strong support at 90, any indicative break below will take the index till 89.72/89.25/88.925.

It is good to sell on rallies around 90.65-68 with SL around 91.01 for the TP of 89.