- On Friday, renewed tensions between the U.S. and China following a new national security law in Hong Kong dented investor sentiment, sending investors into the safety of the U.S. Dollar. - The main trend OF DXY is down according to the daily swing chart. A trade through 99.005 will signal a resumption of the downtrend.
Bullish Scenario: A sustained move ABOVE 99.690 will indicate the presence of aggressive counter-trend buyers. There is minor resistance at 99.994. Overcoming this level will put the index in a position to challenge the main top of 100.605.
Bearish Scenario: a move under 99.690 will signal the presence of sellers. This could trigger a quick break into the main 50% level at 99.245 possibly extend into the minor bottom at 99.00