US Dollar Selloff Accelerates Toward August Lows Ahead of NFPs
The US Dollar has broken back below its 200-day moving average and is approaching a major support confluence near the August lows, where a break would expose deeper downside objectives.
The late-August recovery failed at technical resistance and the dollar's decline accelerated, taking it nearly 1% off the weekly high. This puts it on track to reach August lows ahead of Friday's highly anticipated Non-Farm Payrolls report.
The index has also broken through the median line and the 200-day moving average in a descending pitchfork extending off the July high, with subsequent support objectives resting at the yearly open at 98.24, the 61.8% retracement of the January advance at 97.94, and the 2025 low-week close & the April / May lows at 97.63/65.