- The DXY lost momentum after hitting the 94.30 area.
- In case of extending the raises, you could visit the 94.70 / 75 band.
The US Dollar Index briefly tested the 100-day SMA at the 94.30 area early Monday, although the move later petered out.
Higher up emerges the September peak at 94.74, although some consolidation would be expected ahead of the US presidential elections.
As long as it continues below the 200-day SMA, today at 96.60, the negative view on the dollar is expected to persist.
DXY day chart
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Credits: Forex Street
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