USD Index to plunge towards 100 on failure to defend 103 – SocGen DollarIndex Banks
is close to potential support of 103. A break below here would open up significant losses to the 100 level, analysts at Société Générale report.“Daily MACD has started posting positive divergence however signals of a meaning rebound are not yet visible. The 50DMA is about to cross below the 200DMA forming a death cross; this points towards persistent downtrend.”
“Failure to defend 103 could mean continuation in decline towards last June low of 102/101.30 and 100.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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