- DXY’s recovery appears to have run out of steam near 93.70.
- Next of note on the upside is located the 93.85/90 band.
After bottoming out in the 93.00 neighbourhood earlier in the week, DXY regained some buying interest and managed to advance to the 93.70 region on Wednesday, where it lost some vigour.
The continuation of the corrective upside is expected to meet the next hurdle near 93.90, where sits the 6-moonth resistance line ahead of a Fibo level at 94.20. Further north comes in the September top in the 94.75/80 zone.
While below the 200-day SMA, today at 96.88, the negative view on the dollar is expected to prevail.
DXY daily chart
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