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  • 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