- The recovery in DXY loses further momentum on Tuesday.
- The door is now open for a potential move to the 99.00 area.
DXY is losing the grip on Tuesday after three consecutive sessions posting gains, including Monday’s test of the 100.00 neighbourhood.
Sellers now look to have regained the upper hand and therefore the door is open to further weakness in the dollar in the near-term.
That said, the initial support now emerges at the 99.00 neighbourhood, or last week’s lows. This area of contention is reinforced by the 100-day SMA, also at 99.00.
DXY daily chart
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