US Dollar Index Asia Price Forecast: DXY fails to sustain gains above the 100.00 mark

 

 

The US Dollar Index (DXY) dropped below the 100.00 psychological mark this Thursday after the London close. The index is down after a three-day winning streak while holding above the main SMAs on the daily time-frame.

 

 

 

DXY had a spike up to the 100.40 resistance to then reverse down below the 100.00 psychological mark and the 200 SMA on the four-hour chart. The picture is deteriorating as the market lost considerable steam. A break below the 99.60 support near the 50 SMA could lead to further losses. On the flip side, if DXY can regain the 110.40 resistance a move up towards the 101.00 figure can be on the cards.