US Dollar Index Price Analysis: Interim hurdle emerges at the 94.20/30 band

  • DXY leaves the area of Thursday’s tops beyond the 94.00 mark.
  • Focus now shifts to 94.20/30 in the very near-term.

DXY comes under some mild downside pressure after reaching fresh monthly tops above the key barrier at 94.00 the figure on Thursday.

Further upside now targets the 94.20/30 band, where coincide a Fibo retracement (of the 2017-2018 drop) and the 100-day SMA. The continuation of the uptrend could see the September’s high at 94.74 retested (September 25).

While below the 200-day SMA, today at 96.62, the negative view on the dollar is expected to persist.

DXY daily chart

 

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