Bloomberg Technical Analysis.
Dow Jones futures have once more confirmed a breakout under the 20-day Simple Moving Average (SMA) on the daily chart. However, the index is still higher than its close on April 26.
DXY(USD) INDEX TECHNICAL ANALYSIS
The DXY index remains within a descending trend channel and below all period daily simple moving averages (SMA) which may suggest that bearish momentum might be unfolding.
Support could be at previous lows of 100.82, 100.79, 99.57 and 99.42.
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Gold Ahead of US PCE: Is XAU/USD Ripe for a Break Below Key Support?
Developments on the technical charts of gold recently indicate that the bar for a sustained rise is getting higher as US inflation remains stubbornly high just as the economy displays signs of resilience.
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A decisive drop below immediate support at the early-April high of 90.10 would confirm that cracks are emerging in this monthβs rebound. Such a break could open the way toward 89.00 (the 200-period moving average on the 240-minute charts).
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