USD Index Price Analysis: A drop to the 200-day SMA cannot be ruled out

Market news

15 November 2022

USD Index Price Analysis: A drop to the 200-day SMA cannot be ruled out

DXY breaks below the 106.00 support to clinch new multi-month lows.
Immediately to the downside now emerges the 200-day SMA.

DXY quickly fades Monday’s bull run and refocuses on the downside, breaking below the 106.00 mark for the first time since mid-August.

If the selling bias gathers extra pace, then the index could dispute the critical 200-day SMA, today at 104.89.

Below this region, the dollar’s outlook should shift to negative.

DXY daily chart

Currencies. Daily history for Tuesday, November 15, 2022

Commodities. Daily history for Monday, November 14, 2022

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