USD Hits Decade Highs against the Yen, Euro Near Parity

11 lip 2022

The US dollar has remained incredibly strong, surging to 24 year highs against the Yen. The DXY has smashed through our target of 107.20, and has not retraced, holding the 107's with confidence. We are at decade level highs against major world currencies, effectively at parity with Euro, with EURUSD around 1.01 at the time of this writing. The top-heaviness of the dollar against other currencies suggests a retracement is due, but many sources have been saying that for a while, at this point. If we do retrace, then 106.13 and 105.78 should provide support. If we breakout again, then 108.50 is the next target.