- The DXY remains weak near recent lows around 90.50.
- Further bearish momentum could lead to a re-visit at 90.00.
The bearish stance remains strong for another session, leaving the US dollar index (DXY) exposed to further declines in the near term.
That said, further declines remain with significant possibilities, with the immediate target at the psychological support at 90.00. Should it be left behind, the April 2018 lows close to 89.20 will appear below.
Meanwhile, as long as the DXY trades below the 200 day SMA today at 95.83, the negative view is forecast to prevail. The downside pressure, however, could be eased a bit from a break of the nine-month line (resistance) around 91.60.
DXY day chart
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