- The weekly decline in the DXY index finds support around 90.20.
- A break of this level should open the door for a drop towards 89.20.
The weekly decline in the DXY index appears to have found quite decent support at the lower 90.20 region. This zone is also reinforced by the 2020-2021 support line, currently near 90.30.
A sustainable breakout in this region should open the door to a likely visit to recent lows, around the 90.00 level reached on January 22, in the short term. Below this psychological level are the 2021 lows around 89.20 ahead of the March 2018 low at 88.94.
Meanwhile, occasional bouts of bullish pressure on the dollar are seen as corrective only and, in the long term, and as long as the DXY index remains below the 200-day SMA, today at 93.60, the stance is expected to bearish persist.
US Dollar Index DXY Daily Chart
US dollar DXY index technical levels
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