- The DXY rise appears to have lost momentum near 93.50.
- Higher up is the November 2020 high near 94.30.
The dollar rally appears to have hit a fairly stiff barrier around 93.50 for the time being.
The US Dollar Index (DXY) needs to clear this area (preferably in the short term) to allow the uptrend to continue. In this case, there are no relevant upward barriers until the November 2020 highs in the 94.25 / 30 band.
Meanwhile, the downward pressure around the index appears to be eased after the recent breakout of the 200-day SMA (92.48). If the DXY manages to stay trading above the latter in a sustainable way, then the outlook should change to constructive, at least in the short term.
DXY day chart
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