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  • US Dollar Index (DXY) is under heavy selling pressure near levels last seen in mid-March 2020. 
  • The level to beat for bears is the 97.50 support.

DXY four-hour chart

DXY keeps trading down breaking below the 98.00 level. As the selling pressure remains relentless, the greenback can be set for more losses especially on a break below the 97.50 support en route towards the 97.00 and 96.60 levels. On the other hand, resistance can emerge near the 97.80/98.00 price zone and the 98.50 level. 

Additional key levels