- The weekly rise in the DXY index remains capped near the 93.00 level.
- Minor hurdles appear at the 55 and 100 day SMAs.
The DXY index extends the sideways movement for another day, although it still cannot retest and break above the key 93.00 level.
That said, there is now scope for further range movement, at least in the very short term, with initial resistance at the 93.00 level ahead of minor hurdles at the 55-day SMA (93.29) and the 100-day SMA ( 93.95). On the downside, recent lows in the 92.15 / 10 region should initially support the occasional bearish movement.
As long as the DXY index remains below the 200 day SMA, today at 96.43, the negative view is expected to persist.
US Dollar Index DXY Daily Chart
Credits: Forex Street
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