USD Index at a potential turning point for the year – DBS Bank DollarIndex UnitedStates US Elections Banks
depreciated a third session by 0.5% to 109.62, closing below 110 for the first time since 26 October. As economists at DBS Bank note, DXY has a potential head-and-shoulders formation.“Investors are betting that the US mid-term elections will hurt the USD and bolster“To extend its downside, the DXY needs to break below 109.50, the neckline of a potential head-and-shoulders formation.”“This week could well be critical for the USD’s uptrend.
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