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  • DXY sheds some ground following a failed move to 92.40/50.
  • Next on the upside comes in a Fibo level near 92.50.

The strong upside in DXY shows some signs of exhaustion after being rejected once again from the 92.40/50 band earlier on Monday.

The improved sentiment in the dollar could now push the index to the next minor target at a Fibo level near 92.50. Further north, there are no relevant hurdles until the 2021 highs in the mid-93.00s recorded on March 31.

In the meantime, and looking at the broader scenario, a sustainable breakout of the 200-day SMA, today at 91.51, should shift the outlook for the buck to positive.

DXY daily chart