The index of the u.s. dollar is poised to record third weekly decline in a row and the month-end closing lowest since October.
The greenback opened the week bearish after the results of the French elections and could not recover.
On Friday, the DXY remained within the range of the previous days, moving between 99.20 and 98.50, Consolidating the fall of the opening weekly. Next week, the range will probably be challenged, taking into account the key events that will take place in The U.S. Federal Reserve will have its two-day meeting (not expected to change) and on Friday the Labor Department will release its official report.
The rebound in the european currencies was behind the fall of the index of the u.s. dollar. While the EUR/USD and the GBP/USD reached maximums per month, the dollar remained strong against the currencies of raw materials. It recovered against the japanese yen, erasing losses from April. Below the trend line key, the index continues to slip after finding resistance two weeks ago, around 101.00, as a line of bearish trend remains.
At the beginning of the week, broke a bullish trendline for the medium term and remained below at all times. The daily chart shows the risk tilted to the downside, as long as the index remains below 99.40. While in the opposite direction, if it goes above 100.80 (downline) the DXY would regain strength.