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  • DXY recovers from the day’s low after the week-start gap-down.
  • Short-term symmetrical triangle restricts immediate moves.
  • Bearish MACD, sustained trading below 200-HMA favor sellers.

US dollar index (DXY) marks a corrective pullback from 90.77 while taking rounds to 90.80 during the pre-European session on Monday. Even so, the greenback gauge prints 0.16% intraday losses while keeping the early-Asian gap to the south.

Not only the failure to fill the downside gap but sustained trading below 200-HMA amid bearish MACD also favor the sellers. However, the support line of an immediate triangle pattern, established from December 02, around 90.64, can challenge the US dollar bears.

In a case where the DXY sellers dominate past-90.64, the monthly bottom around 90.47 and the 90.00 psychological magnet can grab the market’s attention.

On the upside, the 200-HMA level of 90.96, followed by the stated triangle’s resistance, at 91.05 now, will keep the DXY bulls chained.

Though, a clear break to the north of 91.05 will not hesitate to challenge 91.50 before eyeing the monthly top near 91.90.

DXY hourly chart

Trend: Bearish