A majors-based US Dollar Index, one that averages USD against EUR, JPY, GBP and AUD, declined this past week.
Prices confirmed a bearish Evening Star candlestick pattern, hinting at further losses in the near term.
Still, the broader uptrend since June still remains in play. A bullish 'Golden Cross' between the 50- and 200-day Simple Moving Averages is in play.
The 50-day line could reinstate the focus to the upside in the coming sessions. Otherwise, breaking under it could shift the outlook materially bearish.
A softer US non-farm payrolls report on September 3rd will be closely eyed by Greenback traders. Given the Fed's recent tone at the Jackson Hole Economic Policy Symposium, a softer jobs print could push back taper timeline expectations. Such an outcome could be positive for market sentiment, threatening the anti-risk USD.