- The DXY resumed the bullish rally above 91.00.
- There is an intermediate barrier at the 50-day SMA near 91.70.
The US dollar index (DXY) rallied after Monday’s slide, as the dollar generally strengthened.
Further recovery seems likely in the short term. That said, if the intermediate resistance at the 50-day SMA near 91.70 clears, the door should open for another visit to the critical 200-day SMA, today at 91.95.
Above the latter, the downward pressure is expected to ease somewhat, and the outlook could start to shift to a more constructive one.
DXY day chart
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