Intermediate resistance emerges in the band 94.20 / 30

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  • The DXY leaves the area of ​​Thursday’s highs, reached above 94.00.
  • Focus now shifts to 94.20 / 30 in the very short term.

The US Dollar Index (DXY) comes under slight downward pressure after hitting fresh monthly highs above the key barrier at 94.00 on Thursday.

Further up, the price would point to the 94.20 / 30 band, where a Fibonacci retracement (from the fall of 2017-2018) and the 100-day moving average coincide. Continuation of the uptrend could retest the September high at 94.74 (September 25 high).

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While below the 200-day SMA, today at 96.62, the negative view on the dollar is expected to persist.

DXY day chart

DXY

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Credits: Forex Street

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