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Forex

US Dollar Index Crashes Back to August Lows as Downtrend Continues

Guavy AI Editorial Team
Instruments
USD
Share

The US Dollar Index (DXY) has been in a downward trend since July and is now approaching a major support confluence near the August lows.

A break below this level could expose deeper downside objectives and reinforce the broader decline from the July high.

The index has broken back below the 200-day moving average, keeping the late July downtrend intact.

DXY is currently trading within the confines of a descending pitchfork extending off the July high with the decline breaking through the median line and the 200-day moving average today.

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