It looks like DXY couldn't quite muster another leg up to tackle the 200w MA and is falling back to its support levels starting with the 4h 20 EMA . I don't think it will hold and I'm watching for this to paint another leg down, with a target around 94.
By the books this can post a bullish rally to challenge the 200w MA later this week, but on higher timeframes we are still within a strong bearish expanding wedge and I'm not confident it will hold these levels, with an eye on the lower 90s, possibly a retest of the daily 100 EMA range.
This is a good sign for crypto but worth monitoring in the coming days/weeks.
By the books this can post a bullish rally to challenge the 200w MA later this week, but on higher timeframes we are still within a strong bearish expanding wedge and I'm not confident it will hold these levels, with an eye on the lower 90s, possibly a retest of the daily 100 EMA range.
This is a good sign for crypto but worth monitoring in the coming days/weeks.
