USD Index Price Analysis: A drop to the 200-day SMA cannot be ruled out
- DXY breaks below the 106.00 support to clinch new multi-month lows.
- Immediately to the downside now emerges the 200-day SMA.
DXY quickly fades Monday’s bull run and refocuses on the downside, breaking below the 106.00 mark for the first time since mid-August.
If the selling bias gathers extra pace, then the index could dispute the critical 200-day SMA, today at 104.89.
Below this region, the dollar’s outlook should shift to negative.
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