- The DXY is holding on to daily gains just above the 90.00 level.
- Further to the upside appears the initial barrier around 90.60.
The US Dollar Index (DXY) extends the state of consolidation always around the key 90.00 zone in the first half of Thursday, ahead of major US data and the European Central Bank decision.
If the bearish momentum takes moment, then a retest at 90.00 should appear on the short-term horizon. A breakout should open the door for a deeper pullback towards the May low near 89.50.
On the bullish side, the rises remain limited by the weekly peaks thus far at 90.50 / 60. Above this area, a test to the 91.00 zone should be on the radar again.
Meanwhile, and looking at the scenario more generally, as long as it remains below the 200-day SMA, today at 91.57, the outlook for the dollar is forecast to remain negative.
DXY day chart
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