- May 14, 2020
- Posted by: Analysis Team
- Category: Forex News
DXY is once again flirting with the key barrier in the 100.40/50 band.
A surpass of this area should put 101.00 back on the radar.
DXY keeps navigating the upper end of the monthly range above the 100.00 mark and approaches the tough barrier in the 100.50 area, where converge May tops and a Fibo retracement (of the 2017-2018 drop).
A clear breakout of this key hurdle is expected to pave the way for another visit to the April peaks in the 101.00 neighbourhood.
On the broader picture, the 200-day SMA – today at 98.42 – is expected to hold the downside for the time being.
DXY daily chart