USD Index: Sustained break below the 103.25/35 zone would signal more weakness ahead – Scotiabank

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The US Dollar Index (DXY) has moved below the 103.25/35 region. A sustained break under this zone would signal more losses ahead, economists at Scotiabank report.

“Seasonal patterns turn more USD-negative through Q2.”

“The DXY charts show the index is on the cusp of a bearish break under retracement/moving average support (in the 103.25/35 range); a sustained break below this zone would signal more weakness ahead.”

See: FOMC meeting will be a rollercoaster for the Dollar – Commerzbank

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