US Dollar Index Price Analysis: Scope for a re-test of 91.00

• The index rebounds sharply from the 90.00 zone.
• Further gains now target the 91.00 neighbourhood.

DXY met unexpected upside traction on the back of recent US inflation figures and extends the bounce off recent lows in the vicinity of the 90.00 yardstick (Tuesday).

The continuation of the recovery is expected to meet the next hurdle of note at the 91.00 zone in the short-term horizon. This resistance area is also reinforced by the proximity of the 100-day SMA, today at 91.07.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.86, the outlook for the buck is forecast to remain negative.

DXY daily chart