As you see in the 4H chart, there was a downtrend and price started to retrace and rise after dropping.
Currently, price is moving between SR levels, and has been rejected from the red resistance zone.
There is a yellow support level around 95.680, and since we had a strong downtrend and price is facing bearish pressure:
if price breaks this level and closes a bearish candle below this level, I expect a drop on DXY to 95.170
Otherwise, if price breaks the red resistance level around 96.00, the bearish scenario will be canceled.
Currently, price is moving between SR levels, and has been rejected from the red resistance zone.
There is a yellow support level around 95.680, and since we had a strong downtrend and price is facing bearish pressure:
if price breaks this level and closes a bearish candle below this level, I expect a drop on DXY to 95.170
Otherwise, if price breaks the red resistance level around 96.00, the bearish scenario will be canceled.
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