Decent support appears at the 200-day average

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  • The recent weakness in DXY faced a containment zone near 92.40.
  • A break below could lead to more losses in the short term.

The decline in the US dollar index (DXY) on Monday stopped just before the critical 200-day simple moving average at the 92.40 region.

As long as it is above this area, the short-term outlook for the DXY is expected to remain constructive and allow for additional gains.

On the opposite side, a convincing return to the area below the 200 day SMA should nullify the current positive short-term stance and open the door to further weakness towards initially 91.30 (March 18).

DXY day chart

DXY

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