- The DXY rally meets a stiff barrier just below the 94.00 mark.
- The next relevant resistance emerges near 94.80.
After bottoming out at the 93.00 zone earlier in the week, the US Dollar Index (DXY) regained its composure and managed to visit the 93.80 / 90 band.
The six-month resistance line in this area remains an interim obstacle to further gains. A breakout of this zone should put the 94.20 Fibonacci level back on the radar before the most significant hurdle at the September peak at 94.74.
While below the 200-day SMA today at 96.84, the negative view on the dollar is expected to persist.
DXY day chart
Credits: Forex Street
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