TheUSDDollarIndex(DXY)hasstagedareboundafterdefendingthelowerlimitofamulti-monthchannelnear93.20/92.90whichisalsothe23.6%retracementfromMay.EconomistsatSociétéGénéraleexpecttheindextotestthe96.20levelonabreakabove94.50/75.

Furtherdownsideonabreakbelow93.20/92.90 

“Holdingabovethechannel(nowat93.50),DXYcouldheadtowardsweeklyIchimokucloudandrecenthighat94.50/94.75.Ifthisisreclaimed,theuptrendisexpectedtoextendtowardsnextobjectivesof95.30and96.20,the50%retracementfrom2020.”

“Onlyabreakbelow93.20/92.90woulddenoteadeeperdownmove.”