Range Markets

  • DXY accelerates the downtrend to the area below 91.00.
  • A deeper pullback should not rule out a move to 90.00.

DXY lost further ground and slipped back to the 90.85/80 band on Tuesday, where some contention appears to have turned up so far.

The continuation of the selling pressure could expose a more serious break below 91.00 to the psychological 90.00 yardstick, although there are no relevant support levels until the February lows in the 89.70/65 band.

Below the 200-day SMA (92.16) the outlook for DXY is expected to remain on the negative side.


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