- DXY crashes higher, cutting with consolidation and regaining 91.00.
- There is a temporary obstacle in the area of 92.00.
The US Dollar Index (DXY) hits new multi-week highs well above 91.00.
Following the key event that was the Federal Reserve meeting on Wednesday, the dollar accelerated a rally and hit new highs around 91.80. Continuation of the current momentum around the greenback seems likely, putting the immediate target at the 92.00 area.
More raises would draw attention to a new visit to the Fibonacci level at 92.46 before the March 9 high of 92.50.
Meanwhile, and looking at the bigger picture, a confirmed break of the 200-day SMA, today at 91.51, should turn the outlook for the dollar to the upside.
DXY day chart
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