- The DXY is holding the trade near the recent peaks around 90.50.
- More gains above 90.60 / 70 are likely at the moment.
The bullish momentum of the US dollar (DXY) is still hitting a stiff barrier at the 90.60 region on Monday.
Above recent highs in the 90.60 / 70 band, the dollar is forecast to continue advancing. Meanwhile, more uploads for now are considered temporary. As long as this area continues to top up, there is still room for a possible drop to the May low of mid-89.50.
Meanwhile, and looking at the broader scenario, while below the 200-day SMA today at 91.55, the outlook for the dollar is forecast to remain negative.
DXY day chart