Dollar Index (DXY): Key Levels to Watch 💲

20 ott 2022

Here is my latest structure analysis for DXY.

The price is currently stuck between 2 vertical structures:
major rising trend line based on higher lows and
major rising trend line based on higher highs.

So far, these are the closest structures to watch.

If the price breaks and closes below a vertical support,
the next support on focus will be 109.8 - 110.2 area.

For now, I remain bullish biased and I will look for a trend-following move from the trend line.
However, the fact that the price set a lower high recently may indicate a coming correctional movement as well.

Let's see what will happen.

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