Search ForexCrunch
  • The index fails to keep daily gains near 90.70.
  • Losses are seen accelerating on a breach of 90.00.

DXY now attempts some consolidation following the earlier move to the 90.65/70 band, where some resistance seems to have turned up.

A decent breakdown of the 90.00 mark should allow for a move to the February’s low at 89.68 ahead of  he YTD lows at 89.20 (January 6).

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.87, the outlook for the buck is forecast to remain negative.

DXY daily chart

 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.