USD Index Ready to Break Key Pivot Point
We invite you to read Bruno’s B.E.S.T. View March issue (written February 28).
In September 2024, a quarterly chart analysis was conducted as the US Dollar Index approached the pivotal level of 100, following a sharp decline in the USD/JPY currency pair due to the rapid unwinding of the “carry trade” during the summer months. Currently, the rising noise surrounding tariff discussions has the potential to strengthen the US dollar. However, speculation on X has been circulating about a possible “Mar-a-Lago Accord,” aimed at devaluing the US dollar, drawing comparisons to the Plaza Accord. This was the prevailing narrative last week as the US Dollar Index approached the critical pivot range of 106.40–105.50, with diminishing momentum. Should this trend continue, a breakdown toward the next key support at 103.75 (aligning with the 62% Fibonacci retracement and the Ichimoku Cloud) may occur. continue reading
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