- DXY recovers lost ground and approaches 102.00.
- There remains more weakness on the table in the short term.
The US Dollar Index (DXY) manages to regain some composure and bounces back to the 102.00 area after three consecutive daily declines on Tuesday.
The index remains under pressure and further losses should not be ruled out at the moment. That said, further decline is expected to target the temporary 55-day simple moving average today at 101.16, ahead of the three-month line around 100.80.
Looking at the long term, the outlook for the dollar is seen as constructive as long as it is above the 200 SMA at 96.85.
DXY day chart
Source: Fx Street
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