- DXY adds to the recent gains above 93.00.
- The next relevance target emerges at the 93.90 level.
The DXY extends to the upside and flirts with the key 6-month resistance line at the 93.30 / 40 band following the optimism seen in the first half of the week, all amid growing risk aversion among market participants.
If the buying momentum picks up, then the next hurdle is expected at the monthly peak at 93.90 (Oct 15) before interim resistance at the Fibonacci level at 94.20 and the 100-day SMA, today at 94.34.
While below the 200-day SMA today at 96.66, the negative view on the dollar is expected to persist.
Daily chart
Credits: Forex Street
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