- The DXY index rises again after Monday’s pullback.
- Monthly highs in the region of 93.20 are highlighted below.
The US Dollar DXY Index bounces from recent lows near 92.50 and moves higher on Tuesday.
More range movement is expected around current levels ahead of Wednesday’s key FOMC event. To the upside, there is a temporary hurdle at the monthly highs near 93.20 (July 21) ahead of the 2021 high near 93.50.
Meanwhile, and looking at the bigger picture, the positive stance on the dollar is expected to remain unchanged as the DXY index moves above the 200-day SMA, today at 91.35.
However, the DXY index is navigating the limits of overbought territory, which could trigger some correction in the not-too-distant future.
US Dollar Index DXY Daily Chart
US Dollar Index DXY Technical Levels
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