- DXY resumes the upside above the 91.00 yardstick.
- There is an interim hurdle at the 50-day SMA near 91.70.
DXY fades Monday’s downtick and regains the upper hand amidst better sentiment around the buck.
Further recovery looks likely in the near-term. That said, if the interim resistance at the 50-day SMA near 91.70 is cleared, it should open the door to another visit to the critical 200-day SMA, today at 91.95.
Above the latter the downside pressure is expected to mitigate somewhat, and the outlook could start shifting to a more constructive one.