So on Thursday the DXY tested the June 2016 lows without closing below. On Friday we failed to close lower. Looking at the rsi we are seeing some hidden divergence. We also have a busy news week with NFP on Friday. With the current level of the DXY I am on the look out of a USD rally this week. I am not saying it will happen but I am watching for it. If we get a rally of the DXY we could see a move up to the 97.00 level which would be the 382 retracement of the last move down that started back at 104 level.
Just something to think about if you are currently short the $.
Just something to think about if you are currently short the $.