- DXY is extending the rebound from recent lows in the mid-92.00s.
- The area above the 94.00 barrier emerges as the next hurdle.
DXY’s bounce of +2-year lows near 92.50 (Friday) has already reclaimed levels well above 93.00 the figure at the beginning of the week.
In fact, further north comes in the 94.00 hurdle ahead of the Fibo level (of the 20187-2018 drop) at 94.20, where the recovery is expected to struggle.
The ongoing rebound is seen as corrective only and the negative outlook on the dollar is forecasted to remain unchanged while below the 200-day SMA, today at 98.00.
DXY daily chart
Share
