- The DXY index fails to extend the bounce beyond the 93.00 level.
- The 6-month resistance line near 93.40 continues to limit gains.
The DXY index runs out of steam at the 93.10 region on Friday after a failed attempt so far to extend Thursday’s decent recovery.
If the bulls regain control, then the next intermediate hurdle is at the 55-day SMA near 93.30 before targeting the 6-month resistance line around 93.40. Higher up are last week’s highs near 93.80.
As long as the DXY index remains below the 200 day SMA, today at 96.73, the negative view on the dollar is expected to persist.
US Dollar Index DXY Daily Chart
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
