Forex News

14:16:23 09-06-2023

USD Index Price Analysis: Further losses could revisit 103.00

  • DXY meets some fresh oxygen and bounces off recent lows near 103.30.
  • There is a transitory support around the 103.00 region.

DXY gathers some upside traction and leaves behind weekly lows around 103.30 at the end of the week.                                                                                             

In case the index breaches the monthly lows near 103.30, it could then put the interim 100-day SMA near 103.00 to the test prior to the temporary 55-day SMA at 102.50.

Looking at the broader picture, while below the 200-day SMA at 105.45 the outlook for the index is expected to remain negative.

DXY daily chart


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