- DXY retreats below 100.00 following recent peaks.
- The Fibo level near 100.50 emerges as the initial barrier.
DXY managed to move beyond the psychological 100.00 last week, although it has returned below this level at the beginning of this week.
While the very-near-term outlook points to some consolidation, the key barrier at the Fibo retracement (of the 2017-2018 drop) at 100.49 remains an interim hurdle ahead of April’s tops in levels just below the 101.00 mark (April 6th).
Furthermore, the constructive bias is expected to remain unchanged above the 200-day SMA, today at 98.22.
DXY daily chart
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