US Dollar Index Price Analysis: Upside so far capped near 90.60

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  • DXY keeps the trade near recent peaks around 90.50.
  • Extra gains likely above 90.60/70 for the time being.

DXY’s upside momentum still meets a tough barrier in the 90.60 region on Monday.

Above recent tops in the 90.60/70 band the dollar is forecast to advance further. Further upside, in the meantime, is seen as temporary. As long as this area continues to cap the upside, there is still room for a potential drop to May’s low in the mid-89.00s.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.55 the outlook for the buck is forecast to remain negative.

DXY daily chart

 

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