US Dollar Technical Outlook: DXY Set Up for More Selling
2020-12-15 13:30:00
Paul Robinson,
Strategist
US Dollar Technical Outlook:
The 2018 low appears at risk in the coming weeks
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The US Dollar Index (DXY) has been treading water lately after dropping through the September low to its worst levels since 2018. That looks set up to continue with the weak price action we have been seeing in recent trade.
The two week horizontal price action should at least lead to a short-term move that will continue to trek towards the 2018 low at 88.25. With how trading has been going lately, that feels like a good distance lower. However, we could see a bit of acceleration given no real big support is around until then.