Home US Dollar Index Price Analysis: Extra gains seen above 90.60/70
FXStreet News

US Dollar Index Price Analysis: Extra gains seen above 90.60/70

  • Occasional bullish attempts in DXY remains capped by 90.60/70.
  • The 50-day SMA at 90.67 also reinforces this area of resistance.

DXY keeps flirting with the upper bound of the range near 90.60, although a break above this area remains elusive for dollar bulls.

Bullish moves, in the meantime, remain capped by the 90.50/60 band for the time being. As long as this area continues to cap the upside, there is still room for a potential drop to May’s low in the mid-89.00s.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.53 the outlook for the buck is forecast to remain negative.

EUR/USD daily chart

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.