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Technical analysis for the DXY index, the index broke below the previous daily low at 90.42, closing the week with bearish engulfing on the weekly chart, resuming the bearish trend. The first target of this breakout is at 0.618 FIB extension at 89.80, the second target is at the previous low at 89.20, the third target is at 1.272 FIB extension of the bearish weekly trend at 88.55.
On the other hand, if the DXY dollar index broke back above 91.45, it will invalidate this bearish week and send the price higher or in consolidation.
Daily chart:
Weekly chart:
