- The index struggles to continue the bounce around 106.70.
- The greenback maintains the positive outlook above the 200-day SMA.
The US Dollar Index (DXY) reverses the initial downtrend and looks to extend the move beyond 106.00 on Tuesday.
Should the recovery be more serious, then the dollar could attempt to retest the weekly high at 107.99 (Nov 21) before the temporary 100-day SMA today at 109.12.
As long as it is above the 200-day SMA, the outlook for the index should remain positive.
DXY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
