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  • DXY is extending the bounce further north of the 93.00 mark.
  • Extra gains are on the table and face relevant resistance near 94.00.

The dollar keeps the rally well and sound and pushes DXY to the key initial resistance area near 93.50 on Tuesday.

That said, further gains do stay in the pipeline and could extend to weekly tops near 93.50 (August 21) ahead of the more significant hurdle in the 94.00 neighbourhood recorded in early August.

The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.35. In case bears return to the markets on a convincing fashion, then the YTD low at 91.75 is expected to re-emerge on the radar.

DXY daily chart