US Dollar Index Price Analysis

The US Dollar Index (DXY) saw a significant decline last week as sellers drove the price below the critical support level of 101. The steep drop pushed the relative strength index (RSI) into oversold territory, signaling strong bearish momentum.

Any attempts at a recovery are expected to encounter resistance at 101.50 and again at the 20-day exponential moving average (EMA) of 102.40. If the price fails to break through these levels and continues to drop, it would confirm that bearish sentiment prevails, with the next support level being 99.57. On the flip side, buyers need to push the price above the 20-day EMA to regain strength and shift momentum.
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