- The DXY bounces to a 2-day high near the 92.00 zone.
- The next target lines up at this year’s peaks around 92.50.
The downside momentum in the US dollar index (DXY) found support in the 91.40 / 30 band in past sessions, causing an upward rebound to levels just below the 92.00 barrier.
If the recovery gains additional strength, the DXY is expected to refocus on this year’s highs in the 92.50 area, ahead of the critical 200-day SMA, today at 92.80.
A break above 92.80 should change the outlook to constructive (bearish) and allow further gains.
DXY day chart
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
