- DXY fails once again at the key barrier in the mid-100.00s.
- A surpass of this area should put 101.00 back on the radar.
DXY is giving away some gains following Monday’s sharp advance, meeting once again a tough hurdle in the 100.50 area, where converge May tops and a Fibo retracement (of the 2017-2018 drop).
In the very near-term, a break above the 100.40/50 band is needed to allow for a potential move to the April’s peaks in the 101.00 area.
Further out, the 200-day SMA – today at 98.40 – is expected to hold the downside in the short-term horizon.
DXY daily chart
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