- DXY struggles for direction around the 97.80/70 band on Tuesday.
- A deeper pullback is likely to visit the YTD lows in the 94.65/60 region.
DXY navigates the area of multi-month lows in the sub-96.00 zone on Tuesday, always under permanent downside pressure amidst the better mood in the risk complex.
Further retracements are increasingly likely, leaving the door wide open for a probable move and test of the yearly lows near 94.60 recorded in early March.
The negative outlook on the dollar is expected to remain unaltered while below the 200-day SMA, today at 98.17.
DXY daily chart
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