DXY Key Levels

As I have mentioned in my previous analyses about dollar index, there is an important key level at 93.200 which is the last month’s and last week’s high.

Why the monthly and weekly lows and highs are important to us?
Because they act as strong support and resistance levels and market reacts to them most of the time.

As you see in the daily chart, there is a support level at 89.555 which has pushed the price to the upside for three times.
Moreover, a reversal double bottom pattern has been created and currently, price is near the neckline (93.200).

If price breaks 93.200 and closes candle above it, I expect a big rise for DXY to 94.600 and in longer term to 96.00
On the other hand, if price gets rejected by 93.200, we can expect a fall first to 92.500 (weekly low) and in the case of any downside breakout on this level, the next target would be 91.800 (monthly low)