- The DXY extends the gradual rally although still below 92.00.
- The next target appears at this year’s highs around 92.50.
The recovery of the US Dollar Index (DXY) remains unable to attack and overcome the key hurdle at the 92.00 area.
Additional gains in the dollar remain on the cards, although the FOMC event later on Wednesday is expected to be key to the bulls’ aspirations. If the bullish momentum gains more strength, the DXY is expected to refocus on the yearly highs around 92.50 ahead of the critical 200-day SMA, today at 92.73.
A break above 92.73 should change the outlook to constructive (bearish) and allow further gains on the short-term horizon.
DXY day chart
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