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US Dollar Technical Analysis: DXY Poised for Yearly Lows at Some Point
2021-04-19 12:30:00
Paul Robinson,
Strategist
USD Technical Outlook
February and January lows up next on radar, could take a few weeks
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US Dollar Technical Analysis: DXY Poised for Yearly Lows at Some Point
The US Dollar Index (DXY) is starting off the week accelerating the recent trend lower. Last week the expectation was for weakness to continue it the near-term, with the possibility it would morph into a longer-term trend resumption. That looks to be the case.
Support from March around 91.30 is breaking. A close below the level will provide confirmation, so far it is below on only an intra-day basis. A close below will at the least indicate another sign that sellers are in control, even if a small bounce develops back above the threshold.
US Dollar Outlook: DXY Eyeing Yearly Lows on Biden Fiscal Stimulus Bets 2021-01-22 07:30:00 Daniel Moss, Analyst
US Dollar, DXY, Fiscal Stimulus, Coronavirus Vaccinations, Jobless Claims – Talking Points:
Risk appetite notably faded during APAC trade as tightening coronavirus restrictions in Hong Kong weighed on market sentiment.
Loose monetary policy conditions and the prospect of additional deficit spending may cap the US Dollar’s potential upside.
The US Dollar Index (DXY) looks set to revisit the yearly lows as price continues to track within a Descending Channel.
Asia-Pacific Recap
Risk appetite appeared to fade during Asia-Pacific trade as tightening coronavirus restrictions outweighed fiscal stimulus optimism. Hong Kong’s Hang Seng index tumbled 1.32% after the government announced it will lockdown the core urban district of Kowloon. Australia’s ASX 200 slipped 0.34% while Japan’s Nikkei