JPMorgan: upside risks for USD
Analysts at JPMorgan Chase are bullish on the greenback. The specialists analyze the Bloomberg Dollar Spot Index, which tracks the US currency versus 10 major counterparts and is currently at the highest levels since Jan. 23.
At this indice's chart the 50- and 200-day MAs were the closest to converging since they crossed in March. If the 50-day MA rises above the 200-day one forming the Golden Cross, the signal for USD will be bullish.
At the same time, the Bloomberg Dollar Spot Index is close to September 2013 high at 1,039, and its rally may pause. The risks are still to the upside, though the signal from MAs and positive NFP are needed for the next leg up.