US Dollar Index Price Analysis: 92.50-60 becomes a tough nut to break for DXY bulls

US greenback index eases from two-week pinnacle amid bullish MACD.
Monthly high, half-yearly resistance line and 200-day SMA check the dollar bulls.
Sellers will no longer danger entries above four-week-old guide line.
US greenback index (DXY) steps returned from the month-to-month peak, presently round 92.35, for the duration of early Wednesday. In doing so, the dollar gauge fades the upside momentum earlier than key resistance confluence.

However, bullish MACD and safe-haven shopping for can hold the DXY on the front-foot, which in flip pose dangers to the 92.50-60 key hurdle.

Following that, November 11, 2020 pinnacle round 93.20 must entice the bulls whilst the ninety three round-figure may also provide an intermediate halt.

On the contrary, an ascending aid line from February 25, at 91.70 now, restricts the non permanent draw back of the US greenback index.

Also performing as a draw back filter is the preceding month pinnacle round 91.60 and 100-day SMA close to 91.00.

Overall, DXY is combating the key hurdle to the north and a decisive destroy will be essential to watch.


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