Indecision in the US Dollar

23 feb 2022

The US dollar is maintaining a very narrow range between 95.82 and 96.24. The mid 96's definitely seem a bit top-heavy for the dxy for now. But we appear to be seeing a broad pennant pattern forming with an apex at about 96.00. This suggests that a breakout may be on the way soon. If we break out from here, then 96.44 is the next target. If we break down then 95.58 then 95.26 should provide support.