The DXY is currently consolidating in a tight range around the 99.30 mark after the recent move lower.
Current Price: 99.304
Key Support: The level around 99.00 looks like the next major psychological support.
Key Resistance: Bulls are currently gaining momentum but need to clear the upper bound of the recent consolidation, specifically the 99.40 - 99.50 area, to negate the short-term bearish pressure.
We are waiting for a breakout. A sustained break above 99.50 could see a retest of 99.80 - 100.00. A definitive move below 99.00 opens the door for a deeper correction towards the 98.80 area.
Current Price: 99.304
Key Support: The level around 99.00 looks like the next major psychological support.
Key Resistance: Bulls are currently gaining momentum but need to clear the upper bound of the recent consolidation, specifically the 99.40 - 99.50 area, to negate the short-term bearish pressure.
We are waiting for a breakout. A sustained break above 99.50 could see a retest of 99.80 - 100.00. A definitive move below 99.00 opens the door for a deeper correction towards the 98.80 area.
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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.