- DXY decline accelerates and tests three-month lows.
- The next support to watch is the 200-day moving average.
The Dollar Index (DXY) remains downhill after the US inflation data to the vicinity of the 107.00 area, or new multi-week lows.
Taking into account the recent price action, the dollar looks poised to extend the current bearish tone over the near term horizon. That said, the next relevant target is the critical 200 SMA today at 104.78.
As long as it is above the latter, the index is expected to maintain its constructive stance.
DXY day chart
Source: Fx Street
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