- The DXY is once again exploring the 90.30 area or 2-day highs.
- A rebound retracement could echo the 89.50 level.
DXY leaves behind Thursday’s pullback and revisits the 90.30 / 40 band on Friday, or 2-day highs.
Bullish attempts are currently limited to the 90.50 / 60 band. As long as this area continues to cap gains, there is still room for a potential drop to mid-May low at 89.00.
At the same time, if you look at the broader scenario, while it is below the 200-day SMA, the forecast for the US dollar will remain negative today at 91.56.