- The DXY remains weak and trendless at the 92.20 area.
- A disappointing employment data could drag the index to 91.80.
The U.S. dollar index (DXY) posted new multi-week lows around 92.15 earlier in the session, although it has managed to rally a few pips since then.
Very short-term price action on the DXY is heavily dependent on the results of Friday’s employment report. That said, if lower-than-expected figures emerge, they could put the dollar under more pressure and drag the DXY to initially provisional support at 92.00 ahead of the 91.80 / 75 band, where the July and August lows are.
Meanwhile, and looking at the broader scenario, the positive stance on the dollar is expected to remain unchanged as the index trades above the 200-day simple moving average, today at 91.33.
DXY day chart
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