US Dollar Index Price Analysis: Recovery faces the next hurdle around 94.70
|- DXY extends the rebound beyond 94.60 on Friday.
- Next on the upside emerges the resistance line near 94.70.
The positive note in the dollar stays unabated at the end of the week and lift DXY to fresh 2-month peaks above 94.60.
The continuation of the bullish impetus is forecasted to meet the 6-month resistance line in the 94.70/75 band ahead of other minor hurdles at the 100-day SMA (95.54) and a Fibo level at 96.03.
In spite of the current bounce, the bearish view on DXY is seen unchanged while below the 200-day SMA, today at 97.10.
DXY daily chart
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