- DXY remains on the sidelines so far this week, still around 93.00.
- USD bulls should meet the initial hurdle midway at 93.00.
DXY is moving in a consolidation range so far this week, extending the rangebound theme between 92.10 and 94.00.
Occasional bullish attempts should initially break above the mid 93.00 to allow for a potential move to monthly highs at the 94.00 limits (3/12 Aug). On the other hand, 2020 lows in the 92.15 / 10 band (August 18/19) remain a magnet for sellers in case bearish sentiment resurfaces.
The offered dollar position is expected to remain unchanged below the 200-day SMA today at 97.57.