USD Index to extend its decline on a break under 105/104.60 – SocGen DollarIndex Banks
has experienced a quick decline toward the 200-Day Moving Average at 105/104.60 which is also the low of August. A break below here would open up next potential supports at 103 and 101.90/30, analysts at Société Générale report.“Daily MACD is within deep negative territory denoting an overstretched move. An initial bounce is not ruled out towards 108.30, the 38.2% retracement from the high achieved in November.”“In case the index fails to hold 200DMA at 105/104.
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