DXY breaking down through 93.00 on positive Chinese data

Author: Giles Coghlan | Category: News

DXY breaks through descending trend line

The Dollar weakness is taking the DXY through a 4hr trendline Positive data from China has given risk appetite a shot in the arm and equity futures are moving higher. 

Weakness in the Dollar pushes the major pairs higher (EURUSD, GBPUSD, AUDUSD etc). A clean break here in the DXY and that opens up 92.50 below and above 1.1900 on the EURUSD

DXY breaks through descending trend line

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