USD Index Price Analysis: Losses should accelerate below the 200-day SMA
|- The index succumbs to the selling pressure and breaches 106.00.
- A deeper pullback opens the door to the November low near 105.30.
DXY keeps the downtrend well and sound in the second half of the week, this time dropping well south of the 106.00 support.
In case the selling pressure accelerates, the US Dollar could shed further ground and dispute the November low at 105.34 (November 15). This area of contention appears underpinned by the proximity of the always relevant 200-day SMA, today at 105.27
While above the 200-day SMA, the outlook for the index should remain constructive.
DXY daily chart
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