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US Dollar Index Price Analysis: Initial resistance comes in near 93.40

FX Street
Updated:
  • DXY regains the smile and shifts its focus to the 93.00 barrier.
  • The 55-day SMA near 93.30 offers interim resistance near-term.

DXY resumes the upside following Friday’s pullback, although the 93.00 barrier appears a tough nut to crack for USD-bulls so far.

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 93.40. Further up is located last week’s highs near 93.80.

While below the 200-day SMA, today at 96.70, the negative view on the dollar is expected to persist.

DXY daily chart

 

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