- DXY bullish momentum falters at the 93.30 region.
- The six-month support line holds the downs.
The US Dollar Index (DXY) appears to have encountered a fairly stiff barrier at the 93.30 zone for the time being.
That said, if the index manages to outrun this area, ideally in the very near term, then the door should open to a likely visit to the monthly peaks around 94.30 (Nov 4 high). Otherwise, lateral continuity and a possible resumption of casualties should not be ruled out.
Going forward, as long as the DXY trades below the 200 SMA today at 96.40, the negative view is expected to persist.
DXY day chart
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Credits: Forex Street
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