DXY seeking the 1D MA100 for Support

This is an update to the core analysis I did on the U.S. Dollar Index (DXY) two weeks ago:


The price remains neutral within the wider consolidation of the green Rectangle after the peak on the 2.618 Fibonacci extension. As mentioned previously, the previous such consolidation broke downwards in order to confirm the 1D MA100 (green trend-line) yet again as a Support, which is holding since June 16 2021. As long as this holds, expect the extension of the long-term uptrend on a new slow rise to the next 2.618 Fib extension (we will measure the exact value after/ if it makes the 1D MA100 bottom.

A 1D candle closing below the 1D MA100 however, would risk lower level, more particularly the 1D MA200 (orange trend-line). Note how the 1D RSI posts a cyclical behavioral pattern.



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