US Dollar Index Price Analysis: Side-lined… waiting for the Fed

• DXY keeps the consolidative mood around the 90.50/60 area.
• Next resistance comes in at 90.67, monthly peaks.

DXY extends the erratic performance in the upper end of the weekly range around the mid-90.00s.

Price action in the dollar stays muted ahead of the key FOMC gathering due later in the NA session.

Bullish attempts need to clear tops in the 90.65/70 zone to allow for the continuation of the uptrend in the short-term horizon. On the flip side, the loss of the 90.00 level should open the door to a re-test of the May’s low around 89.50.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.52 the outlook for the buck is forecast to remain negative.

DXY daily chart