Range Markets

  • DXY’s downside picks up pace below the 92.00 yardstick.
  • There is an interim support at the 50-day SMA at 91.57.

The leg lower in DXY gathers extra steam after breaking below the 92.00 mark on quite a convincing fashion, exposing at the same a deeper pullback.

That said, the 50-day SMA near 91.60 should offer interim contention ahead of the more relevant support area around 91.30, where sit weekly lows recorded in mid-March.

Below the 200-day SMA (92.26) the outlook for DXY is expected to return to the bearish side.


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