US DOLLAR INDEX PRICE ANALYSIS: SOLID CONTENTION TURNED UP AT 92.00

  • DXY reverses the recent weakness and bounces off 92.00.
  • Further recovery now targets the 92.70/75 band.

DXY looks firm and manages well to regain buying interest after bottoming out in the 92.00 neighbourhood earlier on Tuesday.

If the upside impulse gathers extra steam, then the index is expected to meet an interim barrier at the Fibo level at 92.46 ahead of the multi-month peaks around 92.70 (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



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