DXY Different Scenarios

DXY is in the uptrend and currently, price is bouncing in the ascending parallel channel and it is at the channel’s lower band.

Moreover, there is a support zone which has pushed the price to the upside for three times.

Bullish Scenario:
If price breaks the last minor high at 94.160, it can grow more around the next high which is at 94.340 and in the case of an upside breakout on this level, we can expect further rise to 94.600

Bearish Scenario:
Since channel’s are usually likely to be broken out to the opposite side, if the channel’s lower band broken out to the downside and price closed a bearish candle below the yellow support zone, we can expect more drop for the US Dollar Index to the last major low around 93.600