- The US Dollar Index (DXY) is trading with no clear direction around 106.40.
- Occasional bullish attempts are targeting the weekly high near 107.40.
The US Dollar Index (DXY) attempts a consolidation move at the 106.50 area on Thursday amid a cautious tone ahead of the July Non-Farm Payrolls release on Friday.
Meanwhile, the index’s occasional gains should find initial resistance at the post-FOMC high at 107.42 (July 27), which is seen as the last defense for an assault on the 2022 high at 109.29 (July 14).
The short-term upside is expected to continue as long as it is above the 6-month support line today at 104.15.
Also, the broader bullish view on the dollar remains in place as long as it is above the 200-day SMA at 99.68.
DXY daily chart
Technical levels
Source: Fx Street
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