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- DXY: Next potential supports are at 102.90/102.60 and 101.90 – Société Générale
DXY: Next potential supports are at 102.90/102.60 and 101.90 – Société Générale
The Dollar Index (DXY) has experienced a steady downtrend after facing strong resistance near 110.15 in January, Société Générale's FX analysts note.
Signals of a meaningful bounce are not yet visible
"It has recently given up the 200-DMA (105) and is drifting towards November low of 103.30. Daily MACD is within deep negative territory denoting a stretched down move; however, signals of a meaningful bounce are not yet visible. The MA at 105 could be first layer of resistance in case a brief rebound materializes."
"Below 103.30, next potential supports are at projections of 102.90/102.60 and 101.90."
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