The USD index is showing weakness as price has been able to break through prior demand. It looks like bearish
momentum is growing as the rate of change
indicator is increasing during the current price decline. The average rate of change
has been increasing to the downside. The ADX
indicator is increasing, giving weight to the current decline's strength.
Looks like the weekly chart is putting in a lower high to continue the long term downtrend. I'm expecting a continuation of dollar weakness and keeping my eye on the relative strength
for suitable currencies to pair.