- The DXY extends the trade sideways around 102.00.
- Resumption of falls could retest the 101.30 zone.
The US Dollar Index (DXY) is trading in the consolidation phase around 102.00.
At the moment, we must not rule out more movements in ranges. Should the bears regain control, the index could pull back further and revisit the 2023 low at 101.52 (Jan 18) before the May 2022 low around 101.30 (May 30), all before the psychological barrier of 100.00.
In the meantime, if it continues below the 200 SMA at 106.45, 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.
