DXY is pressing higher
After reaching a high of 97, DXY has started to correct and, after a few days of correction, the index has started to consolidate in a tight 0.5 points range.
Now it looks like is pressing to the resistance of this range and a break here could lead to further gains and a new local high.
My target for the index remains 100, and traders should look for opportunities to sell rallies in EurUsd, GbpUsd, AudUsd and NzdUsd.
A drop under 95.80 could mean that the index has further to correct and expose 94.50 very important support.
Overall USD is strongly bullish on medium-term and the safest way to play it is to buy it low.
Now it looks like is pressing to the resistance of this range and a break here could lead to further gains and a new local high.
My target for the index remains 100, and traders should look for opportunities to sell rallies in EurUsd, GbpUsd, AudUsd and NzdUsd.
A drop under 95.80 could mean that the index has further to correct and expose 94.50 very important support.
Overall USD is strongly bullish on medium-term and the safest way to play it is to buy it low.
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