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  • DXY has so far met resistance in the 97.00 region this week.
  • A convincing breakdown of 96.00 could allow for a test of 95.00.

Thursday’s moderate rebound in DXY lacked follow through and run out of steam in the 97.00 area.

Immediately to the downside emerges the 3-month low at 95.72 (June 10), while a deeper pullback is expected to reach the 2019 low in the 95.00 neighbourhood.

While capped by the 200-day SMA, today at 98.42, the dollar is expected to keep the negative view unchanged.

DXY daily chart

 

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