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  • The greenback is facing some headwinds in 2-month tops around 98.20, while it is expected to hold on in the 98.00 area ahead of the Fed decision on rates later today.
  • A positive surprise at today’s FOMC event should lift DXY to new YTD highs beyond 98.40 ahead of May 2017 high at 99.89.
  • Further out, the positive stance on DXY is seen unchanged while above the critical 200-day SMA, today at 96.889. This area of contention is also reinforced by the multi-month support line at 97.06.

DXY daily chart