The US Dollar Index struggles to maintain gains, slipping to 101.75 as fresh sellers enter the market and technical indicators suggest further downside potential.
The US Dollar Index is exhibiting bearish momentum as it fails to sustain a recovery from the 101.60 support level. The index's inability to reclaim the 100-hour SMA suggests that sellers remain in control, leaving the currency vulnerable to further downside pressure.
The DXY is currently bearish, struggling to hold gains above the 101.60 level and trading below the 100-hour SMA.
The 101.60 region is the immediate support level being tested.
The US Dollar Index (DXY) faces renewed selling pressure at the start of the week, failing to sustain Friday's modest recovery from the 101.60 level. The index remains vulnerable as it trades below the 100-hour simple moving average, signaling a bearish outlook for the greenback.
The DXY is currently bearish, trading at 101.75 and struggling to hold above the 100-hour simple moving average.