💰USDIDX lowest since beginning of January, will key support be negated?
During today's session one can observe a broad dollar weakness. One of the reasons was the alleged intervention of the PBOC, which recently said it will maintain the exchange rate of the yuan at basically stable levels. Also risk sentiment was boosted following the recent US Federal Reserve's comments. Fed governors including Bostic, Brainard, and Bullard continued to play down risks for a sustained inflation overshoot. The dollar index (USDIDX) has been under pressure recently. Looking at the D1 interval, the index is in a downward channel, and today it broke below the February lows. If the negative sentiment prevails, the downward impulse may accelerate towards the January lows at 89.20.
USDIDX, D1 interval. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
