- DXY failed to extend the up move further north of weekly peaks around 96.40, as the greenback succumbed to the generalized cautious tone in the global assets.
- The Trump-Xi meeting will be key for the very near term price action in the greenback. Immediately to the upside lies the 200-day SMA and the multi-month resistance line in the 96.55/60 band.
- Above this key area, the outlook on the greenback stays constructive and should target the 98.00 region.
- Support comes in at recent lows in the 95.80 region, coincident with late February lows and ahead of March low at 95.74.
DXY daily chart
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