- The DXY remains under pressure at the 92.50 area.
- Loss of lows should expose a further decline.
The US Dollar Index (DXY) accelerated the decline and retested the key support area around 92.50.
The index tests the support region near 92.50, an area that is reinforced by the 55-day SMA at 92.49.
The loss of this region of containment carries the potential to allow further setbacks on the short-term horizon. That said, there are no relevant support levels until the July low at 91.78 (July 30 low).
Meanwhile, looking at the bigger picture, the positive stance on the dollar is expected to remain unchanged as the index trades above the 200-day SMA, today at 91.32.
DXY day chart
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