US DOLLAR INDEX PRICE ANALYSIS: OUTLOOK STILL REMAINS FRAGILE

  • DXY manages to regain some composure and bounces off 89.50.
  • The 2021 low at 89.20 (January 6) awaits further south.

DXY somewhat reverses the recent weakness and manages to rebound from recent lows in the mid-89.00s.

The negative stance on the dollar stays unchanged for the time being, leaving a deeper retracement of DXY well on the cards in the short-term horizon. Against this, there is room for a pullback to the YTD low at 89.20 (January 6) in the next weeks.

In the meantime, and looking at the broader scenario, while below the 200-day SMA, today at 91.72 the outlook for the buck is forecast to remain negative.

DXY DAILY CHART



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