- The DXY is moving further north and is approaching the 91.00 level.
- The intermediate hurdle appears at the 55-day moving average at 91.15.
The US dollar index (DXY) extends northward and is already trading near the 91.00 barrier, at new 2021 highs.
A further upside now could see the weekly high in the 91.00 region (Dec 21) again tested in the near term. Above this level, the prevailing bearish pressure is expected to ease somewhat as it points to the intermediate hurdle at the 55-day SMA today at 91.15.
The ongoing bounce is considered corrective only and in the long term, as long as the DXY trades below the 200 day SMA, today at 94.46, the negative view is forecast to persist.
DXY day chart
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