- The DXY adds to Monday’s losses around the 92.00 area.
- Initial support emerges around the 91.80 region, July lows.
The U.S. dollar index (DXY) remains offered and continues to rotate around the 92.00 area.
However, a further possible decline continues to appear in the current context. That said, a move below the July lows near 91.80 (Friday 30th low) should open the door for a possible pullback to the 91.50 region (June 23rd low). This containment zone is reinforced by the proximity to the 100 and 50 day moving averages and a Fibonacci level.
Looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as the index trades above the 200-day SMA, today at 91.33.
DXY day chart
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