US Dollar Index Price Analysis: DXY probes rising wedge breakdown above 92.00

• DXY reverses pullback from three-month high, picks up bids to intraday top of late.
• Bearish MACD signals keep sellers hopeful below 92.40.
• Early June tops, wedge’s resistance line adds to trading filters.

US dollar index (DXY) refreshes intraday high to 92.35, 0.11% intraday, ahead of Monday’s European session. In doing so, the greenback gauge struggles to overcome the bearish pattern confirmation flashed the previous day.

Given the bearish signals from the MACD and an off in the US, DXY may remain on the back foot unless marking a clear upside break of the previous support line, near 92.40.

Even so, a two-week-old rising trend line, forming part of the rising wedge near 92.80, will act as an additional hurdle before directing the bulls to the yearly top surrounding 93.45.

On the flip side, the 92.00 threshold and June 25 low surrounding 91.50 could lure the DXY bears during the fresh pullback moves.

In a case where the greenback bears fail to return from 91.50, the early June tops surrounding 90.50 and the 90.00 psychological magnet will be the key to watch.

DXY: Four-hour chart

Trend: Pullback expected