DXY Aims For The Downside, But Will It Fall?
Last week, DXY bounced off of previous support at 106.00 and had a nice bull bar to the upside, reaching 107.350 before reversing back down to the 106.000 support level. This is a crucial moment to see if DXY will come back down to the Daily 30EMA which is currently around 105.350, or bounce again and confirm support. If we get a bounce at the "Resistance/Support Zone" depicted in the chart below, count on a move to the upside to around 107.700 or at least a retest of the previous high of 107.350. If we fall through, look for a touch of the Daily 30EMA at 105.350.
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