US Dollar Index Tests Key Pivot Zone Ahead of PMI Data and Trump-Xi Meeting

The US Dollar Index (DXY) is testing a key pivot zone at the August 2020 high and the 2024 low close at 100.26/35.

The breakout of the September opening range last week keeps the focus on a late-month high, but the rally needs to clear this key zone on a close basis to keep the immediate advance viable in the days ahead.

Initial support for the Dollar rests with the channel line off the monthly low and is backed by 99.80/86, a region defined by the 38.2% retracement of the June decline and the September opening range high.