- The DXY index bounces off new lows in the 92.50 / 45 region on Thursday.
- Tentative resistance on the upside is at the 93.30 / 50 area.
The DXY index rallies slightly after bottoming out in the 92.50 / 45 region on Wednesday, to fresh multi-week lows.
If the current bullish attempt gains more strength, then the next provisional hurdle is at the 55-day SMA near the 93.30 level, before targeting the 6-month resistance line around the 93.50 region. Higher up are last week’s highs near 93.80.
As long as the DXY index remains below the 200-day SMA, today at 96.75, the negative view on the dollar is expected to persist.
US Dollar Index DXY Daily Chart
Credits: Forex Street
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