untitled design

Additional gains are seen above 90.60 / 70

  • Occasional bullish attempts on the DXY remain capped at 90.60 / 70.
  • The 50-day SMA at 90.67 also reinforces this resistance area.

The US Dollar Index (DXY) continues to flirt with the upper limit of the range near 90.60, although a break above this area remains elusive for dollar bulls.

Meanwhile, bullish movements remain limited by the 90.50 / 60 band for the time being. As long as this area continues to cap, there will be room for a possible drop to the May low at 89.50.

Meanwhile, and looking at the broader picture, as the DXY remains below the 200-day SMA today at 91.53, the outlook for the dollar is forecast to remain negative.

DXY day chart

DXY

.

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular