Search ForexCrunch
  • DXY prints 2021 highs near 93.50 earlier on Wednesday.
  • A corrective pullback could extend to the 200-day SMA.

DXY comes under some selling pressure following new YTD peaks in the 93.40/50 band recorded during early trade.

While the continuation of the uptrend looks likely in the short-term horizon, the proximity of the overbought territory could trigger some corrective moves that should be well contained around the 200-day SMA in the mid-92.00s.

If DXY manages to keep business above the latter on a sustainable basis, then the outlook should shift to constructive, at least in the near-term.