DXY reverses a three-month low and picks up bids to a late intraday high.
Below 92.40, bearish MACD signs kept sellers hopeful.
The wedge’s resistance line adds to trade filters as early June tops.
Before Monday’s European session, the US dollar index (DXY) reaches an intraday high of 92.35, up 0.11 percent. As a result, the greenback gauge is struggling to escape the bearish pattern confirmation that appeared the day before.
DXY may remain on the back foot unless it marks a clear upside break of the last support level, near 92.40, given the bearish signals from the MACD and an off in the US.
Even yet, a two-week-old rising trend line near 92.80, which is part of the rising wedge, will act as an extra stumbling block before the bulls reach the yearly peak near 93.45.
On the other hand, the 92.00 level and the June 25 low near 91.50 could entice DXY bearish during the current downturn.
The early June high near 90.50 and the 90.00 psychological magnet will be the key to watch if the greenback bears fail to return from 91.50.
Pullback is projected as a trend./n
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