US Dollar Index Price Analysis: A test of 93.00 looms closer
|- DXY tested the area of highs in the 92.80 region .
- Further upside should test the round level at 93.00.
DXY corrects lower following recent tops in the 92.80/85 band earlier on Wednesday.
In spite of the current knee-jerk, the prospects for the dollar fall on the positive side. Hence, further gains remain well on the cards and the surpass of monthly tops around 92.85 should pave the way for a quick move to 93.00 ahead of the so far 2021 highs near 93.50 recorded in late March.
In the meantime, and looking at the broader scenario, the constructive stance on the dollar is expected to remain unchanged as long as the index trades above the 200-day SMA, today at 91.38.
DXY daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.