- USD Index Price Analysis: Further losses likely below 101.60
Market news
9 February 2023
USD Index Price Analysis: Further losses likely below 101.60
- The index loses the grip and drops to weekly lows near 102.80.
- Next on the downside emerges the 3-month line near 101.60.
DXY accelerates losses and breaks below the key support at 102.00 the figure on Thursday.
The continuation of the downtrend could put the 3-month support line near 101.60 to the test in the near term. Below this line, the dollar is expected to face extra weakness and could open the door to a potential move to the 2023 low around 100.80 (February 2).
In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.
DXY daily chart
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