DXY: results of a turbulent week and the outlook for the dollar

Next week promises to be much calmer than the last 2. Both among the bulls and bears of the market, there are those who have lost significant funds due to strong volatility, fixing losses. Perhaps the next week will help them compensate for some of the losses suffered, and the winners - to strengthen their positions.

The breakdown of the local resistance levels of 112.75, 113.10 will confirm our assumption about the resumption of growth of the dollar index and CFD #USDX. In an alternative scenario, the downward correction of the dollar will continue, and CFD #USDX will drop to support levels 111.70, 111.45. Breakdown of support levels 110.90, 109.63 will sharply increase the risks of further weakening of the dollar.

*) for important events of the next week, see Key economic events of the week 07.11.2022 – 13.11.2022

Support levels: 112.29, 112.00, 111.70, 111.45, 110.90, 109.63, 107.25, 105.50

Resistance levels: 112.74, 113.09, 114.00, 114.74, 115.00

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