- DXY loses more ground and breaks below 104.00.
- The continuation of the corrective decline could revisit 102.30.
The US Dollar Index (DXY) It breaks the support at 104.00 and falls to fresh 2-week lows at the 103.20 area on Tuesday.
Against this, further pullbacks hold up well and could head to next support at 102.35 (5th May low) where decent containment is expected to emerge.
The index’s current bullish stance remains supported by the 3-month line around 100.00, while the longer-term outlook for the dollar looks constructive as long as it is above the 200-day SMA at 96.39.
DXY daily chart
Technical levels
Source: Fx Street
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