- The index finds some contention near 101.80 on Monday.
- A further pullback could lead to a revisit to the 101.30 area in the short term.
The US Dollar Index (DXY) is teetering around the 102.00 area after bottoming out near 101.80, or multi-month lows, early in the session.
Should the bears regain control, the loss of the January low at 101.77 (Jan 16) should put a possible deeper decline back to the May 2022 low at 101.29 (Jan 30) on investors’ radar. May), ahead of the psychological level of 100.00.
Meanwhile, below the 200-day SMA at 106.40, the outlook for the index should remain negative.
DXY day chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
