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  • The upside momentum in DXY struggled in the vicinity of 98.50 for the time being.
  • Further upside should see the 2019 highs just below the 99.00 barrier retested in the near term. Above the short-term support line, today at 97.62, the bullish bias remains unaltered.
  • In light of the upcoming speech by Chief Powell (Friday), the 21-day SMA at 97.93 should offer interim contention in case the selling mood returns to the markets, while the 2019 highs near the 99.00 mark should be the next target on a resumption of the up move.

DXY daily chart