USD Index: Next potential supports located at 2020 peak of 103 and 101.90/101.30 – SocGen
US Dollar Index (DXY) has now lost 8.5% from the top in October and is below the August low of 104.60. Economists at Société Générale highlight the next targets on the downside.
An initial bounce is on the cards
“Daily MACD is within deep negative territory pointing towards an overstretched move. An initial bounce is not ruled out, however, the recent pivot high at 107.20/108.00 could provide resistance near term.”
“Next potential supports are located at 2020 peak of 103 and 101.90/101.30, the 50% retracement from 2021.”
Reprinted from FXStreet_id,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.