- DXY accelerates the fall and revisits 96.20.
- Additional losses should be contained around 95.50.
The DXY (US Dollar Index) adds to Thursday’s losses and falls to the 96.20 zone, or 4-day lows, on Friday.
If the selling pressure gains more traction, then the index is likely to face initial containment at the 95.50 zone (Nov 18) ahead of the barrier to minor resistance at the 20-day SMA at 95.26.
In the meantime, if it is above the 2-month support line (moving away from the September low) around 94.00, further gains from the DXY remain well on the table. Furthermore, the broader constructive stance is still supported by the 200-day SMA at 92.41.
DXY daily chart
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
