- The DXY index rally remains limited by the 91.40 / 50 region.
- There is an intermediate hurdle at the 50-day SMA near 91.75.
The US Dollar DXY index is moving with a new slight selling bias after encountering some pretty decent resistance in the 91.40 / 50 region so far this month.
Some consolidation appears likely in the near term, with the lower limit of the range near the 90.80 region and gains limited by the 91.50 zone.
A subsequent recovery should not be ruled out, with intermediate resistance at the 50-day SMA near 91.75 as the next target on the upside. In case of breaking above this level, then a move towards the 200-day SMA at 91.93 could emerge on the horizon.
Above the latter level, the downward pressure is expected to ease slightly and the outlook could start to shift to a more constructive one.
US Dollar Index DXY Daily Chart
US Dollar Index DXY Technical Levels
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