US Dollar Index Price Analysis: Rebound seen struggling near 94.00
|- DXY fades the earlier uptick to the 93.90 region on Tuesday.
- Immediately to the upside is located the key barrier near 94.00.
The rally in DXY has so far faltered in the proximity of the 94.00 neighbourhood on turnaround Tuesday.
This is a key hurdle where sits the August’s top. A breakout of this area should face a minor resistance at the Fibo level (of the 2017-2018 drop) at 94.20 ahead of the 6-month resistance line near 94.90.
Looking at the broader picture, the negative outlook on DXY is seen unchanged while below the 200-day SMA, today at 97.15.
DXY daily chart
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