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- USD Index Price Analysis: Losses expected to accelerate below 109.00
USD Index Price Analysis: Losses expected to accelerate below 109.00
- DXY regains some poised following three daily pullbacks.
- The 9-month support line appears around 109.00.
DXY picks up some buying interest and briefly tests the area just beyond 110.00 the figure on Wednesday.
Further weakness in the dollar should not be ruled out despite the current bullish attempt. That said, the loss of the 9-month support near 109.00 carries the potential to magnify the decline and open the taps to extra retracement in the near term.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 104.66.
DXY daily chart
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