- The US Dollar Index (DXY) remains offered and tests the area below 108.00.
- If the index accelerates its losses, it could retest the 107.60/55 zone.
The US Dollar Index (DXY) starts the week on the negative foot and briefly drops to multi-week lows in the area below 108.00.
Despite the weakness surrounding the dollar, his short-term bullish view remains as long as it trades above the 7-month support line around 106.10.
If sellers push further, then a possible test of the weekly low at 107.58 (Aug 26), just before the intermediate 55-day SMA at 107.25, could start to appear on the horizon.
Looking at the long-term scenario, the constructive view on DXY remains unchanged as long as it is above the 200-day SMA at 101.39.
DXY daily chart
Technical levels
Source: Fx Street
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