- The DXY index downward correction extends to the 90.50 region.
- The next support of interest is at the 90.00 region.
The DXY index accelerates the decline and moves past multi-day lows at the 90.50 zone during the European session on Tuesday.
Sellers continue to pressure the dollar and now open the door for a likely visit to weekly lows, around the 90.00 level reached on January 22, in the coming sessions. Below this psychological level are the 2021 lows around 89.20 ahead of the March 2018 low at 88.94.
Meanwhile, occasional upward movements in the DXY index are considered only corrective, and in the long term and as long as the index remains below the 200-day SMA, today at 93.74, the bearish stance is expected to persist. .
US Dollar Index DXY Daily Chart
US dollar DXY index technical levels
.
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.
