- The DXY rose for the second day in a row on Monday although without exceeding last week’s peak.
- The next target appears at this year’s highs near 92.50.
The recovery of the dollar remains strong, which has propelled the dollar index (DXY) to the 91.90 zone, where it appears to have found decent resistance.
If the rally picks up steam, the DXY is expected to refocus on yearly highs in the 92.50 area ahead of the critical 200-day SMA, near 92.80 today.
A break above the latter should change the outlook to constructive (bearish) and allow further gains.
DXY day chart
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