US Dollar Index Price Analysis: Further rangebound looks likely

• DXY remains side-lined so far this week, always around 93.00.
• USD-bulls are expected to meet initial hurdle in the mid-93.00s.

DXY is moving within a consolidative range so far this week, extending the rangebound theme between 92.10 and 94.00.

Occasional bullish attempts should initially surpass the mid-93.00s to allow for a potential move to monthly peaks in the boundaries of 94.00 (August 3/12). On the opposite side, the 2020 lows in the 92.15/10 band (August 18/19) remain the magnet for sellers in case the bearish sentiment resurfaces.

The offered stance in the dollar is expected to remain unchanged while below the 200-day SMA, today at 97.57.

DXY daily chart