VOT Research Desk
The collapse of the crucial 106.00 barrier at the start of the week is extended as a result of increased selling pressure on the US Dollar Index (DXY).
The index’s motivation to flirt with the 200-day Simple Moving Average (SMA), which is currently at 105.36, is the selling pressure.
Losses are anticipated to quicken and aim for the 104.63 low set in August if the price falls below the latter (August 10).
The prognosis for the index should become bearish below the 200-day SMA.
|
Daily SMA20 |
106.99 |
|
Daily SMA50 |
109.89 |
|
Daily SMA100 |
109.24 |
|
Daily SMA200 |
105.85 |
