Dollar Index at Risk: Key Support Holds the Fate of the Trend
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The U.S. Dollar Index (DXY) has broken down from a Head & Shoulders pattern, confirming a bearish reversal after a successful retest of the neckline. The price is currently near a key support area, and if it fails to hold, a drop toward the lower strong support zone is likely.
Additionally, RSI is showing bearish divergence and is below the neutral 50 level, indicating weakening momentum. DYOR, NFA