- The DXY is under some downward pressure after Friday’s highs.
- At the moment, the 105.00 area is emerging as a decent support area.
He DXY sees its recent bounce to the 106.80 area lose momentum and retreat back to the 106.40 area earlier in the week.
Should sellers prevail again, the index could retreat to the monthly low of 105.53 (October 12), ahead of the weekly low of 104.42 (September 11), which still seems reinforced by the proximity of the provisional SMA 55 days at 104.58.
Meanwhile, as long as it holds above the key 200-day SMA, today at 103.22, the outlook for the DXY is expected to remain constructive.
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.
