US Dollar Index Price Analysis: Another attempt to 93.70 looks likely
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US Dollar Index Price Analysis: Another attempt to 93.70 looks likely

  • DXY adds to Friday’s gains above the key 93.00 barrier.
  • Immediately to the up now emerges the weekly top near 93.70.

The index extends the bounce off the sub-93.00 region on Monday and advances to fresh tops beyond 93.30 on the back of broad-based sell off in the risk complex.

The continuation of the recovery should put last week’s highs near 93.70 back on investors’ radar ahead of the more relevant hurdle in the 94.00 neighbourhood (August 3).

The negative outlook in DXY is seen unchanged while below the 200-day SMA, today at 97.16.

DXY daily chart

 

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