- July 7, 2021
- Posted by: Analysis Team
- Category: Forex News
- DXY keeps the narrow range in the mid-92.00s on Wednesday.
- Further recovery now targets the 92.70/75 band, July highs.
DXY exchanges gains with losses in the 92.50 area amidst alternating risk appetite trends ahead of the FOMC Minutes on Wednesday.
If the dollar manages to gather further upside impulse, then the index is expected to meet an interim barrier at the Fibo level at 92.46 ahead of the multi-month peaks in the 92.70/75 zone (July 2).
In the meantime, and looking at the broader scenario, the outlook for the dollar is seen constructive while above the 200-day SMA, today at 91.41.
DXY DAILY CHART