DXY came to touching distance of 104 yesterday, before the US advance GDP Q/Q data released at -1.4% (Expected 1.1% Previous 6.9%)
This cause the DXY to begin its retrace, back down towards 103.00 (currently 103.18). If the DXY fails to break below 103.00. Look for this price level as a strong support.
With the FOMC decision next week, and an expected 50 basis point increase in Fed Funds Rate, it is likely that retracement to key support levels will form a base for a rebound.
This cause the DXY to begin its retrace, back down towards 103.00 (currently 103.18). If the DXY fails to break below 103.00. Look for this price level as a strong support.
With the FOMC decision next week, and an expected 50 basis point increase in Fed Funds Rate, it is likely that retracement to key support levels will form a base for a rebound.
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