US Dollar Index Price Analysis: The 6-month resistance line at 93.40 caps the upside
|- DXY fails to extend the rebound further north of the 93.00 mark.
- The key 6-month resistance line near 93.40 keeps capping gains.
DXY runs out of steam in the 93.10 region on Friday following a so far unsuccessful attempt to extend Thursday’s decent advance.
If the USD-bulls regain the upper hand, then the next interim hurdle emerges at the 55-day SMA near 93.30 ahead of the 6-month resistance line around 93.40. Further up is located last week’s highs near 93.80.
Furthermore, DXY risks extra weakness as long as it keeps the trade below the 200-day SMA at 96.73.
DXY daily chart
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