- DXY meets discord in the vicinity of 91.80 on Thursday.
- Immediately downwards, the lows of this year appear at 91.74.
The US Dollar Index (DXY) survives around the eight-month support line at the 92.00 area and has been able to bounce off previous lows at the 91.85 / 80 band so far.
The outlook for the DXY remains bearish, leaving the door open for a deeper pullback, initially the 2020 low at 91.74 (Sept 1 low) before the April 2018 lows near 89.20.
In the short term, selling pressure is expected to ease somewhat if a rally above the weekly highs of 93.20 (November 11) is expected. However, as long as the DXY trades below the 200 SMA today at 96.06, the negative view is forecast to persist.
DXY day chart
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