DXY Finds Support Off Inflation Data, Fed
The US dollar has been bought up from relative lows at 95.26. The firmness in the dollar stems from inflation data yesterday and increased expectations of a Fed hike. We did see some volatility in the DXY, but support has held strong, and we appear to be making a run for the 96's again. However, 96.00 has provided prohibitive resistance for the moment, with two rejections and a red triangle on the KRI to confirm resistance. If we are able to break this level, then 96.24 and 96.44 are the next levels. Otherwise, we should see continued support from 95.26.
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