US Dollar Index Price Analysis: Corrective downside limited around 92.50
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- DXY prints 2021 highs near 93.50 earlier on Wednesday.
- A corrective pullback could extend to the 200-day SMA.
DXY comes under some selling pressure following new YTD peaks in the 93.40/50 band recorded during early trade.
While the continuation of the uptrend looks likely in the short-term horizon, the proximity of the overbought territory could trigger some corrective moves that should be well contained around the 200-day SMA in the mid-92.00s.
If DXY manages to keep business above the latter on a sustainable basis, then the outlook should shift to constructive, at least in the near-term.
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