DXY now stops at SMA50, also the resistance 96.30
Look at on the chart, price is divided into two clear reaction zones:
- Blue zone: Trading above 96.30
- Red zone: Trading below 96.30
USDollar needs to provide more fuel to continue its rally.
Tomorrow, the main focus is US Durable Good Orders : This is the source of fuel to USDollar .
- Positive data would send DXY higher.
- Negative data would beat DXY to correct from this level.
Producer Price index data released in the beginning of month showed a strong positive number , so I think the data likely is positive.