- The DXY moves higher and surpasses 90.20 on Friday.
- The next relevant resistance is around 90.90.
The US dollar index (DXY) recovered momentum and accelerated to the upside, after breaking above 90.00 at the end of the week.
A continuation of the recovery is likely on the short-term horizon and therefore the index is expected to encounter the next significant resistance at the weekly peak at 90.90 (May 13 high). The proximity to the 100-day SMA just above 91.00 reinforces this barrier.
Meanwhile, and looking at the broader scenario, as long as the DXY remains below the 200-day SMA today at 91.69, the outlook for the dollar is forecast to remain negative.
DXY day chart