- The strong correction higher in the greenback has managed to reclaim the key 97.00 handle and reach the 97.50 area, where it is now looking to consolidate.
- DXY is eroding the 55-day 21-day SMAs in the 97.50 area and a breakout of this area on a convincing fashion should open the door for a test of March high at 97.71, considered the last defence for a move to the 98.00 mark and beyond.
- In the meantime, the 200-day SMA and the multi-month support line in the mid-96.00s should hold the downside and keep the constructive bias intact
DXY daily chart
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