DXY - Looking at trendline resistance + 78.6% fib + 95.25 horizontal resistance - We should stall at these levels before the next catalyst for a move lower or higher but these levels should provide some decent resistance. Break above and the dollar will start squeezing
We had a false breakout to the downside on this pair. False breakouts often lead to big reversals.
The pair is trading in a channel for the moment but I see possibility of seeing 1.35 in the near future
We stopped right at the 78.6% retracement (1.1460). If you notice the daily candles from last week show indecision, which usually precedes a big move.
We need to see this pair move below the orange trendline in order to take some of the upside pressure. 1.15 is the next upside target.
I stay neutral for now as ...