Home US Dollar Index Price Analysis: Interim resistance emerges at 93.30/50

US Dollar Index Price Analysis: Interim resistance emerges at 93.30/50

Updated: 22 Oct. 2020 | 12:22

DXY bounces off fresh lows in the 92.50/45 band on Thursday.
Next on the upside aligns the 93.30/50 band.

DXY regains some composure after bottoming out in the 92.50/45 band (Wednesday), or fresh multi-week lows.

If the ongoing bullish attempt gathers further steam, then the next interim hurdle emerges at the 55-day SMA near 93.30 ahead of the 6-month resistance line around 93.50. Further up is located last week’s highs near 93.80.

While below the 200-day SMA, today at 96.75, the negative view on the dollar is expected to persist.

DXY daily chart

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