I can't say I have much time for the 'death cross' thingy, but still, if you are interested:
(ps. a Death Cross is when the 50-day MA crosses to underneath the 200-day moving average … or so I am told :-D )
BoA add that on 9 occasions since 1980 when the DC has occurred 8 times USD weakness followed.
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I guess if you are looking for fundamentals to support a lower US dollar they are not difficult to come across:
- the neglectful and inept government response to the coronavirus pandemic in the US
- the riots, which have since subsided
- US election uncertainty
- political fragmentation being stoked and accelerating
- Europe is on a much better recovery path, positive for EUR/USD
