- The DXY extends its decline south of the 102.00 support.
- The next support level to watch is at the monthly low near 101.90.
The US dollar index (DXY) adds to Tuesday’s losses and approaches the 102.50 area on Tuesday’s session.
If the bulls fail to regain control of sentiment – ideally in the very short term – the index could spin out of control and challenge recent lows in the sub-102.00 area (March 23). Further losses from here could put a visit to the lows around 100.80 in 2023 (Feb 2) back on investors’ radar.
On a bigger picture, as long as it holds below the 200-day SMA, today at 106.58, the outlook for the index is expected to remain negative.
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.
