Range Markets

  • DXY’s downside flirts with lows in the mid-91.00s.
  • Next on the downside is located the 91.30 area.

The downtrend in DXY remains unabated, picking up extra pace following the recent break below the critical 200-day SMA in past sessions.

That said, a sustainable breach of the 50-day SMA near 91.60 should pave the way for the continuation of the selling bias with the next target emerging around 91.30, where sit weekly lows recorded in mid-March.

Below the 200-day SMA (92.23) the outlook for DXY is expected to remain on the bearish side.


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