US Dollar Index Asia Price Forecast: DXY keeps moving down, trades near 97.25 level

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  • US Dollar Index (DXY) remains under bearish pressure near levels last seen in mid-March this year.
  • The level to beat for sellers is the 97.00 figure.
 

DXY four-hour chart

 
DXY keeps sinking while breaking below the 97.50 level. As the sellers remain in control, the greenback can extend losses especially on a break beyond the 97.00 support en route towards the 96.60 level. However, as the market can be oversold, a counter-trend move up cannot be ruled out. Resistance can be seen near the 97.50, 97.80 and 98.00 price levels initially. 
   
   

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