Daily Market Analysis 25.05.2023: USDIDX

Instrument: USDIDX

Technical Analysis

Bullish Preference: 
A buy position is envisaged if the price trades above 104.126 with take profit at 104.291.
Bearish Preference: 
A sell position is envisaged if the price trades below 103.834 with take profit at 103.682.
USD  Unemployment claims
USD Prelim GDP

The dollar hit a two-month high as uncertainty over raising the U.S. debt limit and averting a default saw investors avoid risk-driven assets. The dollar benefited from increased safe-haven demand, while traders also dumped treasuries in favor of the greenback.

Analysis: SCRUM Team

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