DXY is trading around 97.70, while trending within a descending channel formation, and holding above 97.60 (Fib support 0.236), with resistance seen near 97.80–98.00 zone.
The RSI is rising and holding near 46, showing mild recovery momentum but not yet strong enough for a breakout.
However, prices have taken a support at the middle Bollinger band, which might lift the dollar a little higher.
Price action suggests consolidation inside the descending channel; intraday bias stays neutral-to-bullish above 97.60.
PPI data stronger than expected could lift DXY toward 98.35–98.50, while weaker data may pressure it back toward 97.30.
The 10Y auction outcome will also guide direction — higher yields can support the dollar, while softer demand may weigh on it.
The RSI is rising and holding near 46, showing mild recovery momentum but not yet strong enough for a breakout.
However, prices have taken a support at the middle Bollinger band, which might lift the dollar a little higher.
Price action suggests consolidation inside the descending channel; intraday bias stays neutral-to-bullish above 97.60.
PPI data stronger than expected could lift DXY toward 98.35–98.50, while weaker data may pressure it back toward 97.30.
The 10Y auction outcome will also guide direction — higher yields can support the dollar, while softer demand may weigh on it.
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Certified Market Technician
WA: +33755531401
marketinvestopedia.com/
WA: +33755531401
marketinvestopedia.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.