US Greenback Technical Forecast: AUD/USD, DXY, EUR/USD, GBP/USD
US Greenback Technical Forecast: Bearish
- Lengthy-term cycle evaluation implies prolonged losses are on the playing cards for USD.
- RSI pattern break hints at additional upside for AUD/USD.
- EUR/USD breach of Descending Channel may intensify near-term shopping for stress.
- GBP/USD charges eyeing 2018 highs after slicing by key psychological resistance.
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As mentioned in previous report, the haven-associated US Dollar might proceed to lose floor towards its main counterparts, as long-term worth evaluation suggests a cyclical downturn is within the offing. Key ranges to look at for AUD/USD, EUR/USD and GBP/USD.
US Greenback Index (DXY) Month-to-month Chart – Cyclical Downturn Afoot
DXY month-to-month chart created…