US Dollar Index Price Analysis: Upside momentum falters ahead of 94.00
|- DXY’s recovery meets a tough barrier just below the 94.00 mark.
- The next resistance of relevance emerges near 94.80 (September 25).
After bottoming out in the 93.00 neighbourhood at the beginning of the week, DXY regained the composure and managed to visit the 93.80/90 band.
The 6-month resistance line in this area remains an interim obstacle for extra gains. A surpass of this area should put the Fibo level at 94.20 back on the radar ahead of the more significant hurdle at the September’s top at 94.74.
While below the 200-day SMA, today at 96.84, the negative view on the dollar is expected to persist.
DXY daily chart
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