US Dollar Index Price Analysis: Recovery Seen Struggling Near 90.50

Editor • Jun 3, 2021 at 7:59 AM EDT

DXY fails to gather serious traction above 90.00. Recent tops near 90.50 emerge as an interim hurdle.

DXY looks to move further north of the 90.00 yardstick on a more sustainable fashion.

Dollar, Money, Cash Money, Business, Currency, Finances

Image Source: Pixabay

If bulls manage to push the index further, then the recovery is expected to meet an interim barrier at last week’s peaks in the 90.40/45 band (May 28) ahead of the 91.00 neighbourhood.

Failure to do so, the dollar is seen resuming the downtrend with the immediate contention around May’s low at 89.50 (May 25). Further south comes in the YTD low at 89.20 (January 6).

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.63 the outlook for the buck is forecast to remain negative.

DXY daily chart

DOLLAR INDEX SPOT

Disclosure:

Information on this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Comments

Back to all articles

DXY daily chart

DOLLAR INDEX SPOT

More from this Author

Forex Today: Australian Inflation Takes Centre Stage Alongside Geopolitics

US Dollar Index Hovers Around 99.00, Looks At Geopolitics

Rising Inflation And Slowing Growth Put ECB And BoE In A Bind