- The DXY weakens further below the 92.00 level.
- Next, to the downside, emerges the 100-day SMA at 91.17.
The US Dollar Index (DXY) easily broke below the 92.00 support and opened the door for a further decline on the short-term horizon. It is currently sailing in the 91.50 area, where the February peaks also coincide.
The continuation of the bearish leg looks likely at the moment. That said, the DXY faces minor support at the 100-day moving average, today at 91.17 ahead of the most relevant support area in the neighborhood of 91.00.
A break above the 200 day SMA at 92.82 should change the outlook from bearish to constructive and allow further gains.
DXY day chart
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