US Dollar Index Price Analysis: Rebound seen struggling around 94.00

• DXY’s recovery stays in place and approaches the 93.80 zone.
• The resistance line near 93.80 emerges as a minor hurdle.

After bottoming out in the 93.00 neighbourhood earlier in the week, DXY regained some buying interest and now tests the upper end of the range near 93.80.

The continuation of the corrective upside is expected to meet the next hurdle in the 93.80 region, where sits the 6-month resistance line ahead of a Fibo level at 94.20. Further north comes in the September’s top at 94.74 (September 25).

While below the 200-day SMA, today at 96.86, the negative view on the dollar is expected to persist.

DXY daily chart