- 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
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