19 May 2020
US Dollar Index Asia Price Forecast: DXY down, challenging 2-week lows
- US Dollar Index (DXY) is on the back foot on the second day of the week challenging 2-week lows.
- More down can be on the cards below the 99.30 level.
DXY daily chart
The US Dollar Index (DXY) is under pressure challenging 2-week lows and trading below the 50 SMA on the daily chart.
DXY four-hour chart
DXY weakness extended to the second day of the week after suffering its worst daily decline in 5 weeks on Monday. The greenback can remain under pressure below the 100.00 mark as bears are looking for extra losses towards the 98.90 and 98.40 levels to the downside. Resistances can be seen near the 99.60, 100.00 and 100.40 levels.
Additional key levels