- The DXY consolidates the breakout of the 90.00 level.
- A serious move above 90.00 could point to 91.00.
After bottoming out at new lows around 89.20 last Wednesday, the dollar index (DXY) managed to rally and is extending the move beyond 90.00 on Monday.
If the bullish attempt becomes more sustainable, there is a possibility of a move to the weekly high in the 91.00 region (Dec 21). Above this level, the prevailing downward pressure is expected to ease somewhat.
Long-term, as long as DXY trades below the 200-day SMA today at 94.69, the negative view is expected to prevail.
DXY day chart
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