US Dollar Index Price Analysis: Weekly upside capped around 93.00

• DXY’s rebound from +2-year lows met a tough hurdle near 93.00.
• Further gains are probable if the 93.00 barrier is cleared.

The weekly upside momentum in DXY has so far faltered in the 93.00 region (September 3) after bottoming out in the 91.80/75 band earlier in the week.

That said, the ongoing recovery carries the potential to extend further and face interim resistance at the weekly tops near 93.50 (August 21) ahead of the more significant hurdle in the 94.00 neighbourhood.

The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.40. The resumption of the selling bias is seen dragging DXY to the April 2018 low at 89.23 ahead of the March 2018 low at 88.94.

DXY daily chart