- DXY accelerates downside and breaks the 90.00 level.
- The next level to watch on the downside is the 2021 low at 89.20.
The US Dollar Index (DXY) intensifies lower and sets new multi-month lows in the 89.80 / 75 band on Tuesday.
A deeper index pullback now appears to gain additional momentum and carries the possibility of revisiting this year’s low at 89.20 (Jan 6 low).
Meanwhile, looking at the scenario more generally, as long as the DXY remains below the 200-day SMA today at 91.81, the outlook for the dollar is forecast to remain negative.
DXY day chart
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