- The DXY starts the week on a positive note and surpasses 91.00.
- Further raises, they should face initial resistance at the 91.50 zone.
The US Dollar Index (DXY) manages to regain its composure and advances past the 91.00 barrier at the beginning of the week.
While the bearish stance remains unchanged, bouts of buying pressure are expected to hit the interim hurdle around 91.50, where the nine-month line (resistance) lies ahead of the Fibonacci level at 91.92. Above this region, downward pressure is expected to ease somewhat.
Meanwhile, as long as the DXY trades below the 200 SMA today at 95.80, the negative view is forecast to prevail.
DXY day chart
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