US dollar index Asia Price Forecast: DXY loses steam, trades sub-99.00 figure

  

 

DXY is down in 2.5-week lows as the market is retreating. However, it is still holding above the 100/200 SMAs on the daily time-frame but trading below the 50 SMA, suggesting a mixed picture. 

  

 

DXY broke below the 99.00 level and the 200 SMA on the four-hour chart suggesting a negative bias in the medium term. Bears seem to be back in control and a decline towards the 98.30 price level can be in the offing. Further down lie the 97.50 and 96.70 price levels if the bears gather enough strength. Immediate resistance can emerge near 99.00 followed by the 99.36 level.