The DXY currently sits slightly above the 38.2% fib retracement level. The price is likely to consolidate along this level for the interim.
With no major news events for the USD, a move to the downside is anticipated.
Look for the DXY to break down from the 104 price level to signal further downside potential, toward the key support level of 103.80 (which coincides with the 61.8% fib retracement level) and the bullish trendline.
With no major news events for the USD, a move to the downside is anticipated.
Look for the DXY to break down from the 104 price level to signal further downside potential, toward the key support level of 103.80 (which coincides with the 61.8% fib retracement level) and the bullish trendline.
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