- The dollar index remains under pressure near 90.00.
- A break below 90.00 should expose 89.68.
The US Dollar Index (DXY) lost more ground and remained poised to challenge psychological support around 90.00 in the near term.
Lower down is the February low at 89.68. A deeper pullback below this level should put a potential visit to this year’s lows at 89.20 (Jan 6 low) back on the radar.
Meanwhile, and looking at the broader scenario, as long as it is below the 200-day SMA today at 91.90, the outlook for the dollar is expected to remain negative.
DXY day chart
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
