DXY Dollar Index Chart Technical Outlook

DXY Dollar Index Chart Technical Outlook

•DXY navigates with small losses in the low-101.00s on Friday.
•Once 101.00 is cleared, the index could revisit the YTD low near 100.80.
DXY manages to rebound from earlier lows after bears failed to retest/breach the 101./00 support on Friday.

The index remains under pressure despite Thursday’s bullish move. Against that, the next support of note appears at the weekly low at 101.01 (April 26), while the breakdown of this zone could open the door to a probable visit to the 2023 low at 100.78 (April 14)

Looking at the broader picture, while below the 200-day SMA, today at 105.95, the outlook for the index is expected to remain negative.

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