US Dollar Sinks on Worries about Trade Barriers and Slower Economic Growth
|Weakness in U.S. Dollar Index (DXY) has pressed beneath its prior corrective low at 100.26 (Jan 18) extending the near-term series of lower-lows off of the Jan 3, 2017, multi-year high at 103.82.
Let's notice that the angle of decline of the 20-Day EMA is getting steeper, indicating that Dollar downside pressure is intensifying.
In addition, DXY is again spending more time beneath important prior resistance at 100.70, and increasingly looks like it is heading for a challenge of the up-sloping 200-Day EMA, now at 98.30.
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