- DXY remains under pressure and briefly breaks through 102.00.
- Further losses could see the 101.00 area revisited in the near term.
He DXY It is now regaining some composure after the previous pullback to the sub-102.00 area, or new multi-week lows, on Thursday.
Despite the ongoing bounce, the index remains under pressure. That being said, there is a palpable probability that a deeper pullback will drag the DXY into the area of the April/May lows around 101.00. From here comes the minimum around 100.80 registered in 2023 on April 14.
On a bigger picture, as long as it holds below the 200-day SMA at 105.14 the outlook for the index will 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.
