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  • US Dollar Index (DXY) remains on the back foot after suffering its worst daily decline in 5-weeks on Monday. 
  • The FOMC Minutes reiterated that the Fed is ready to use its full range of tools to support the economy.
  
 

DXY four-hour chart

 
DXY weakness extends to the third day of the week after recording its worst daily decline in 5 weeks on Monday. The greenback remains under pressure below the 100.00 mark as sellers are looking for further declines towards the 98.80 and 98.40 levels to the downside. On the other hand, resistances can be seen near the 99.30, 99.60 and 100.00 levels. The FOMC Minutes didn’t reveal any new. The Fed is committed to using its full range of tools to support the economy. 
  
 

 

Additional key levels