From the Desk of Ian Culley @IanCulley
The US Dollar Index $DXY has resumed its march toward fresh lows.
It took a less direct route, meandering sideways for the past seven months.
Nevertheless, our roadmap for a DXY breakdown has remained useful.
The EUR/USD is trading above 1.08. And commodity currencies are recapturing their July pivot lows from last summer.
These are key developments that support further USD weakness, leading us toward today’s breakdown.
Thanks to sellers taking control of the market, today’s session is offering another critical piece of confirming evidence…