The DXY is maintaining levels above the red trend line which now serves as a neckline support for the index. The cross of the 50-day above the 200-day MA is also bullish for the dollar along with the dampened rate cut expectations. A failed break below the 50-day and 200-day MA’s of 103.8 will allow the DXY to break above the 61.8% Fibo level towards 106.
A higher US CPI print on Wednesday will certainly push the dollar higher this week.
A higher US CPI print on Wednesday will certainly push the dollar higher this week.