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  • DXY manages to rebound from recent lows in the 93.00 zone.
  • A breach of this level should open the door to a move to 92.70.

After bottoming out in the 93.00 neighbourhood, DXY regains some composure and flirts with the 55-day SMA near 93.30 at the beginning of the week.

If the ongoing bullish move picks up extra pace, then the next interim hurdle comes in near 94.00, where is located the 6-moonth resistance line ahead of a Fibo level at 94.20.

While below the 200-day SMA, today at 96.92, the negative view on the dollar is expected to prevail.

DXY daily chart