US DOLLAR INDEX PRICE ANALYSIS: KEEPS THE POSITIVE STANCE AND TARGETS 92.50

  • DXY regains ground lost following Monday’s pullback.
  • Extra gains are seen above the 92.50 level.

Monday’s strong retracement dragged DXY back below 92.00, although buyers returned to the market on Tuesday.

In fact, the improved sentiment in the dollar seems far from abated so far and could now push the index to the next minor target at a Fibo level near 92.50. Further north, there are no relevant hurdles until the 2021 highs in the mid-93.00s recorded on March 31.

In the meantime, and looking at the broader scenario, a sustainable breakout of the 200-day SMA, today at 91.50, should shift the outlook for the buck to positive.

DXY DAILY CHART



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