- The US Dollar Index (DXY) is under pressure below the 97.00 figure.
- The European Central Bank’s president Mario Draghi will be speaking on Wednesday. This can indirectly affect DXY.
- The US Consumer Price Index (CPI), also to be released on Wednesday can provide volatility on DXY.
DXY daily chart
The US Dollar Index (DXY) is in a bullish trend above the 96.40 support and the 200-day simple moving averages (DSMA).
DXY is attempting to stabilize above 96.40 support as the index is trading below its main SMAs.
DXY 30-minute chart
DXY is under bearish pressure below its main SMAs. Bears want a break below 96.74 and a continuation towards 96.40 to get to 95.74. However, a daily close above 97.00 and 97.30 resistances would embolden the bullish case.
Additional key levels