- The Dollar Index (DXY) remains on the back foot, after recording its worst daily decline in 5 weeks, on the first day of this week.
- DXY is attempting to stabilize above the 99.00 figure.
DXY daily chart
The Dollar Index (DXY) is trading near-the-may lows below 50 SMA on the daily chart, after posting its worst daily decline in 5 weeks, this Monday.
DXY, the four-hour chart
DXY is input in a range, just above the 99.00 figure for some time, below the 100.00 mark, and it has all the major SMAs. While the market is trying to stabilize, it remains to be seen if DXY in the short term, it can-find-the-99.60 and 100.00 resistance. On the other hand, a daily close below the 99.00 figure, would be viewed as bearish with the potential to decline towards 98.80 and the 98.40 levels in the medium term.