- The DXY index is moving within a narrow range near the 90.00 level.
- Below that region, is the annual low at 89.20.
The DXY US Dollar Index is holding on to daily gains around the 90.30 region at the start of the American session on Monday.
The inability of the bulls to propel the DXY index above recent highs, in the 91.00 region in recent days, has prompted sellers to return to the markets, diverting attention to the possible continuation of the downtrend.
With that said, a break below the 90.00 level should come as no surprise to anyone on the short-term horizon. Below this psychological level are the 2021 lows around 89.20, ahead of the March 2018 low at 88.94.
The current bounce is considered only corrective and, in the long term and as long as the DXY index remains below the 200 day SMA, today at 94.23, the negative view is expected to persist.
US Dollar Index DXY Daily Chart
US dollar DXY index technical levels
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