- The DXY holds up the chopp well so far this week.
- A loss of the 200-day SMA near 105.00 could accelerate losses.
The US Dollar Index (DXY) It is trading inconclusively above 106.00 at the end of the week.
The index appears to have entered a consolidation phase so far this week. That being said, a drop below the November low at 105.34 (Nov 15) could pave the way for a probable visit to the critical 200-day SMA, today at 105.05.
Loss of this important level should change the outlook for the dollar to negative, with immediate support at the August low at 104.63 (August 10).
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.
