- USD Index Price Analysis: Further losses not ruled out
Market news
27 April 2023
USD Index Price Analysis: Further losses not ruled out
- DXY extends the consolidative phase for yet another session.
- Extra retracements could see the 101.00 region breached near term.
DXY alternates gains with losses in the low-101.00s on Thursday.
In the meantime, the index is expected to keep the choppy performance unchanged. The loss of the 101.00 region should spark further bouts of weakness to, initially, the 2023 lows in the 100.80/75 band (April 14).
Looking at the broader picture, while below the 200-day SMA, today at 106.10, the outlook for the index is expected to remain negative.
DXY daily chart
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