US Dollar Index Price Analysis: DXY bulls remain hopeful to meet 93.00

• DXY pauses after two-day uptrend near the 3.5-month high.
• Immediate rising trend line, 200-HMA favor bulls amid firmer RSI.
• Bears need to conquer two-week-old support line for fresh entry.

US Dollar Index (DXY) picks up bids to 92.70 during Monday’s Asian session. In doing so, the greenback gauge awaits fresh clues to extend the previous two-day run-up near the highest levels since early April, marked the last week.

Given the firmer RSI line and the successful move above 200-HMA, not to forget a two-day-old rising support line, US Dollar Index bulls stay directed towards an ascending resistance line from July 02, near 92.85.

It should, however, be noted that the quote’s sustained run-up beyond 92.85 will have to cross the 93.00 to direct the bulls toward the yearly high of 93.43, failing to do so can trigger the pullback moves.

Alternatively, the aforementioned immediate support line near 92.65 and 200-HMA surrounding 92.45 restricts the quote’s short-term declines.

However, sellers will remain cautious until the DXY strays above an ascending support line from July 06, around 92.25.

DXY: Hourly chart

Trend: Bullish