- July 5, 2021
- Posted by: Analysis Team
- Category: Forex News
- DXY remains on the defensive in the low-92.00s on Monday.
- Initial contention emerges in the 92.00 neighbourhood.
DXY continues to correct lower following Friday’s negative price action in spite of clinching fresh multi-month tops in the 92.75/80 zone.
If the selling impulse gathers extra steam, then the index is expected to meet initial albeit minor support at the 10-day SMA near 92.00 ahead of the more relevant 91.50 region. The latter is reinforced by the proximity of the 200-day SMA at 91.42.
In the meantime, and looking at the broader scenario, the outlook for the dollar is seen constructive while above the 200-day SMA.
DXY DAILY CHART