- The DXY recovery appears to have been exhausted near 93.70.
- Higher up, the 93.85 / 90 band emerges.
After bottoming out at the 93.00 area earlier in the week, the US Dollar Index (DXY) recovered some buying interest and managed to advance to the 93.70 region on Wednesday, where it lost some for now.
The continuation of the corrective upside is expected to hit the next hurdle near 93.90, where the six-month resistance line lies ahead of the 94.20 Fibonacci level. Further north is the September pioc in the 94.75 / 80 area.
Although it is below the 200 day SMA, today at 96.88, the negative view on the dollar is expected to prevail.
DXY day chart
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Credits: Forex Street
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