US Dollar Index Price Analysis: Price action looks to FOMC

• DXY looks side-lined above the 93.00 level midweek.
• Immediate resistance comes at 93.50, monthly tops.

DXY extends the rangebound theme in the low-93.00s ahead of the key FOMC event due later on Wednesday.

If buyers return to the market, then there are rising bets for a re-visit to the so far monthly highs near 93.50 recorded at the beginning of the week. On the flip side, minor support lines up at the 10-day SMA at 92.86 ahead of the 55-day SMA at 92.67.

In the meantime, and looking at the broader scenario, the constructive stance on the dollar is seen unchanged while bove the 200-day SMA, today at 91.45.

DXY daily chart