US DOLLAR INDEX TO CLIMB TOWARDS THE TOP OF FIVE-YEAR RANGE AT 102/102.50 – CREDIT SUISSE

Economists at Credit Suisse maintain a core and long-held bullish outlook from September/October last year and look for the US Dollar Index (DXY) to strengthen further to 100/100.04 next and eventually the top of the five-year range at 102/102.50.

SUPPORT AT 97.71 IDEALLY HOLDS TO MAINTAIN AN IMMEDIATE BULLISH BIAS

“The DXY remains well supported and we maintain our core bullish outlook for the 78.6% retracement at 100.00/04 next, which we look to cap at first.”

“Big picture, we continue to look for a move to the top of the five-year range at 102.00/102.50.”

“Support at 97.71 now ideally holds to maintain an immediate bullish bias. Below can see a deeper setback to the 55-day average at 96.74, but with fresh buyers expected here.”