- The DXY is under pressure and returns to the area below 103.00.
- Further weakness could return to the lows around 102.00.
He US Dollar Index (DXY) It moderates part of the recent 2-day advance and returns below the 103.00 barrier earlier in the week.
Despite the ongoing bounce, the index could still face headwinds on its way up. That being said, there is still room for the index to revisit the June lows in the 102.00 area, while a sustainable break of this level could expose a deeper decline to the April/May lows near 101.00. From here, the Dow could reach the lows around 100.80 registered on April 14.
Overall, as long as it stays below the 200-day SMA at 105.07, the outlook for the DXY will 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.
