US Dollar Outlook: USD Breakdown Fizzles into 2021 Open- DXY Levels 2021-01-07 19:30:00 Michael Boutros, Strategist
US Dollar Technical Price Outlook: DXY Weekly Trade Levels
US Dollar technical trade level update – Weekly Chart
USD sell-off extends into yearly open- threat for exhaustion into trend support / 89.07
DXY Initial weekly resistance into 91- threat remains lower sub-92.28 Advertisement
The US Dollar Index has plunged more than 5.8% off the September highs with the DXY breakdown carrying over into the yearly open. The sell-off may be losing steam here however as price responds to long-term downtrend support and while the broader outlook remains tilted to the downside, the immediate decline may be vulnerable here. These are the updated technical targets and invalidation levels that matter on the US Dollar Index weekly price chart amid the ongoing chaos on Capitol Hill and head
USD price action traded mixed throughout Wednesday with the DXY Index gaining a mere 0.1% on balance as the US Dollar strengthened against the Euro but weakened relative to the Pound Sterling.