- The DXY keeps the erratic behavior unchanged so far this week.
- Bears resumption could retest 105.00.
The US Dollar Index (DXY) advances modestly after Friday’s sharp decline.
Continuing selling pressure could facilitate a deeper pullback to initially the August low near 105.00 (Aug 2). This initial containment zone appears to be reinforced by the 55-day simple moving average.
The constructive short-term stance is expected to remain supported by the 6-month support line today near 104.30.
Also, the broader bullish view on the dollar remains in place as long as it is above the 200 SMA at 99.74.
Source: Fx Street
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