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

Market news

21 March 2023

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

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

“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

Currencies. Daily history for Tuesday, March 21, 2023

Commodities. Daily history for Monday, March 20, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.