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USD technical’s worrisome as DXY formed a bearish Death Cross – BAML

FXStreet (Delhi) – Research Team at BAML, suggest that the USD technicals look quite worrisome, with USD closing below key levels in certain pairs (especially GBP which was quite bid with a strong employment report).

Key Quotes

“Also DXY has formed a bearish Death Cross (short-term moving average (50dma) crosses over a longer-term moving average (200dma).”

“According to Chief FX Technical Strategist Paul Ciana, “Since 1999, there have been 12 death crosses including today and DXY was lower 9 out of 11 times after five days. In the past, when the 50d crosses below the 200d, the DXY tends to decline for up to 20 days. After 20, there is no significance.”

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