- The sharp drop in DXY appears to have found some contention near 106.30.
- Next, on the upside, the 100-day moving average appears above 109.00.
The Dollar Index (DXY) rises after two strong daily pullbacks and recovers the area above 107.00 earlier in the week.
Should the bulls push further, the index could hit a temporary and initial hurdle at the 100-Day Simple Moving Average (SMA) today at 109.08, ahead of the now multi-month resistance line around 109.40 .
Above the latter, the index could resume gains on a more sustainable basis.
DXY day chart
Source: Fx Street
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