US Dollar Index: Key resistance at 109.25/110.25 to cap at first – Credit Suisse

The US Dollar Index (DXY) is seen closing in on the next key resistance at 109.25/110.25 which analysts at Credit Suisse look to cap at first.

Support for a pullback is seen at 106.55

“DXY remains strong. We would look for a fresh and concerted pause at the next major resistance at September 2002 high and the 78.6% retracement of the 2001/2008 downtrend at 109.25/110.25, especially as the market is at the top of its typical extreme zone again.”

“Support for a pullback is seen at 106.55 initially, then 105.79.”