- The DXY remains under pressure, albeit from previous lows in the area below 102.00 points.
- Below the 102.00 zone, the index could retest the 2023 low.
The US dollar index (DXY) it pulls back for the sixth session in a row and continues to navigate the multi-week zone at the 102.50 zone.
For now, the bears are holding their ground. Conversely, the break of the March low at 101.91 (March 23) should put a possible test of the 2023 low near 100.82 (Feb 2) back on investors’ radar.
On a bigger picture, as long as it holds below the 200-day SMA, today at 106.60, the outlook for the index is expected to remain negative.
DXY daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
