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    USD Index: Break below 200-DMA at 103.78 to clear path for return to February low near 103.00 – SocGen

    Source Fxstreet
    Feb 26, 2024 15:55

    The US Dollar (USD) ended a run of five weeks of gains. Economists at Société Générale analyze Greenback’s outlook.

    Month-end equity rebalancing flows could keep USD on the back until Thursday’s PCE

    Month-end equity rebalancing flows could keep the Dollar on the back foot until the release of PCE inflation on Thursday. 

    The reconvergence of the DXY towards the 200-DMA (103.78) requires close scrutiny. A break below would clear the path for a return to early February lows near 103.00 and could guide EUR/USD above 1.0900, GBP/USD over 1.2750 and AUD/USD towards 0.6600.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
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