- The DXY index extends the consolidation move around 90.00.
- Below this level are the 2021 lows at 89.20.
The DXY index maintains range movement in the 90.00 region, always supported by the key 2020-2021 support line (close to 89.80).
While further consolidation around this region is not ruled out, psychological support at the 90.00 level emerges as a crucial barrier for USD sellers. A break below this zone should open the door for a likely move towards the 2021 lows around 89.20 (Jan 6) before targeting the March 2018 low at 88.94.
Meanwhile, occasional bouts of bullish pressure in the DXY index are seen as only corrective amid the broader bearish view around the dollar. That said, bullish attempts to the 9100 region and beyond could represent short opportunities in the current context.
Long-term, as long as the DXY index remains below the 200-day SMA today at 93.21, the negative stance is expected to persist.
US Dollar Index DXY Daily Chart
US dollar DXY index technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
