US Dollar Index Price Analysis: Increasing bets for a retest of 101.00
|- DXY is extending the upbeat momentum above the 100.00 mark.
- Interim hurdle emerges at the Fibo retracement at 100.49.
DXY has managed to reclaim the critical triple-digit barrier on Wednesday, consolidating the weekly recovery from Monday’s lows near 98.50.
If the recovery picks up further pace, then the focus of attention will shift to the Fibo retracement (of the 2017-2018 drop) at 100.49, ahead of the April’s top just below 101.00 the figure.
Further out, the 200-day SMA in the 98.30/35 band is expected to hold the downside in the short-term horizon.
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