The US Dollar Index (DXY) weakened again, losing 0.53% vs. a trade-weighted basket of currencies. After failing to extend Tuesday's late-day rally, the greenback relapsed to fresh 10-week lows. Bullish intraday studies (4-hourly RSI) triggered a minor relief rally after briefly probing the key 50% retracement at 78.538. Today's price-action has set-up a one-week downward sloping trendline, providing an obvious pivot point. Dollar bulls will now look to break resistance at 78.633 and close above former platform support at 78.820 to avoid potentially capitulating through the 61.8% retracement at 77.852.
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