US Dollar Index Technical Analysis: Bearish below the resistance line at 96.58
|- The greenback remains under pressure so far this week, taking DXY to the area of multi-day lows in the 95.70/60 band.
- A deeper pullback is not ruled out while the short-term resistance line, today at 96.58, caps the upside. That said, another test of YTD lows in the 95.00 neighbourhood still remains in the pipeline.
- Extra downside should meet support in the 95.30/25 band, where converge a Fibo retracement of the September-December and the 200-day SMA, all ahead of YTD lows near the 95.00 handle.
DXY daily chart
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