- Analytics
- News and Tools
- Market News
- US Dollar Index: Defending 107.60 is crucial to avert a phase of decline – SocGen
US Dollar Index: Defending 107.60 is crucial to avert a phase of decline – SocGen
The US Dollar Index (DXY) extends its decline to 111.00. Holding above 107.60 is critical to avoid a deeper fall, economists at Société Générale report.
Uptrend is slowly becoming overstretched
“A pullback is underway, however, 110.80/110.40, the 61.8% retracement of the last bout of up move is expected to be first layer of support.”
“Beyond 114.80, next potential hurdles are located at 117 and graphical levels of 121 consisting of 2001/2002 peaks.”
“It is worth noting that monthly RSI is at the best levels since 2015. This denotes the uptrend is slowly becoming overstretched.”
“Daily channel band at 107.60 is an important level. Defending this would be crucial to avert a phase of decline.”
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
