Although the US Dollar (USD) Index has connected with a monthly support area between 98.72 and 99.67, April’s lower low at 99.01 reached levels not seen since early 2022 and price crossing below the 50-month simple moving average (SMA) at 101.91 potentially questions this support zone.
Bolstering the likelihood of additional downside in the USD are the daily and H4 charts. The former exhibits scope to reach support at 98.58 (and formed a Death Cross [50-day SMA at 104.45 crossing below the 200-day SMA at 104.66]), while the latter completed a bearish pennant pattern (ruptured the lower boundary), extended from 100.64 and 99.01. As you can see, H4 action is currently retesting the underside of the breached pattern’s border.
In view of the above technical surroundings, USD shorts could have some gas left in the tank.
Bolstering the likelihood of additional downside in the USD are the daily and H4 charts. The former exhibits scope to reach support at 98.58 (and formed a Death Cross [50-day SMA at 104.45 crossing below the 200-day SMA at 104.66]), while the latter completed a bearish pennant pattern (ruptured the lower boundary), extended from 100.64 and 99.01. As you can see, H4 action is currently retesting the underside of the breached pattern’s border.
In view of the above technical surroundings, USD shorts could have some gas left in the tank.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。