- DXY looks consolidated at the bottom of the range.
- Further losses could cause the monthly low near 101.60 to be retested.
The US Dollar Index (DXY) trades with no clear direction and remains around the 102.00 level on Thursday.
DXY remains under pressure and further losses cannot be ruled out for the time being. That said, a break of the May low at 101.64 (May 24) could pave the way for a visit to the temporary 55-day SMA today at 101.03 on the short-term horizon.
In the bigger picture, the index’s current bullish stance remains supported by the 3-month line around 100.50, while the longer-term outlook for the dollar looks constructive as long as it is above the 200-day SMA in 96.72.
DXY daily chart
Technical levels
Source: Fx Street
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