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  • US Dollar Index (DXY) is under pressure at levels last seen in mid-March. 
  • DXY is testing a key support level near the 98.00 figure. 

DXY four-hour chart

DXY dropped to the 97.80/98.00 support zone while starting the week under pressure. As the move down could be exhausted, it is not clear how far the US dollar index can go down. However, if DXY can find some footing near the mentioned levels, the index might bounce. On the other hand, a break below the 97.80/98.00 area can send the index towards the 97.50 and 97.00 levels in the medium term while resistance could be seen near the 98.50, 98.70 and 99.00 levels.

Additional key levels