- The DXY regained the 94.00 area on Tuesday.
- The 93.50 zone emerges as strong support.
The U.S. dollar index (DXY) extends the erratic performance recorded in recent times and comes under some selling pressure after another unsuccessful attempt to revisit 94.00.
Meanwhile, the greenback appears poised for further consolidation as long as the 93.50 region holds. On the other hand, the breakout of 94.00 – ideally in the very short term – could motivate the index to initiate a more convincing recovery, initially hitting the weekly high at 94.17 (Oct 18 high) followed by the 2021 high at 94.56 (Oct 18 high). October 12 °).
Looking at the bigger picture, the constructive stance on the index is unchanged as long as it remains above the 200-day SMA at 91.90.
DXY day chart
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