- The DXY remains offered with risks of extending the pullback in the short term.
- There is intermediate support at the 50-day SMA at 91.45.
The US Dollar Index (DXY) remains on the defensive so far this week and threatens to break below the key 200-day SMA.
A sustainable drop below the latter should open the door to further losses with the initial intermediate target at the 50-day SMA today at 91.45. Further down it is in the most relevant area around 91.30, where the weekly lows registered in mid-March are located.
Below the 200 day SMA, the outlook for the DXY is expected to turn bearish.
DXY day chart
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