Range Markets

  • DXY resumes the upside following Wednesday’s post-FOMC drop.
  • The next target of note aligns at the YTD peaks around 92.50.

The dollar manages to regain upside traction and quickly leave behind Wednesday’s downtick in the wake of the FOMC event.

In the meantime, extra gains stay on the cards, with bulls’ aspirations now targeting the so far yearly tops in the mid-92.00s ahead of the critical 200-day SMA, today at 92.70.

A break above the latter should shift the outlook for DXY to constructive (from bearish) and allow for further gains in the short-term horizon.


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