US Dollar Index Price Analysis: Rebound now targets 96.36
- DXY is coming back after dropping to the 94.60 region on Monday.
- The next up barrier of relevance emerges at 96.36.
The sharp pullback in DXY at the beginning of the week met support in the 94.65/60 region for the time being.
Interim resistance emerges at the 96.00 neighbourhood, where is located a Fibo retracement (of the 2017-2018 descent) ahead of the December low at 96.36.
Further up comes the resistance line in the 96.60/65 band. Above this area, the selling pressure is expected to mitigate and allow for a move to the more relevant 200-day SMA in the 97.80 zone.
DXY daily chart