US Dollar Index Price Analysis: Upside So Far Capped Near 90.60

DXY’s upside momentum still meets a tough barrier in the 90.60 region on Monday.

Dollars, Currency, Money, Us Dollars, Franklin

Image Source: Pixabay

Above recent tops in the 90.60/70 band the dollar is forecast to advance further. Further upside, in the meantime, is seen as temporary. As long as this area continues to cap the upside, there is still room for a potential drop to May’s low in the mid-89.00s.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.55 the outlook for the buck is forecast to remain negative.

DXY daily chart

(Click on image to enlarge)

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 ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.