Upward retracement in DXY. Where will it go to?

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Hi guys!

Thank you for reading my analysis.

Looking at the weekly chart we can see that price has started turning up. We also have a bullish pintail formed about 4 weeks ago.

Bullish divergence is also spotted in the MACD histogram.

Price is currently trying to move above the 15ema and I believe that the 30 ema (red line) will be the next topside target and it coincides with the ranging area that I've marked as a red box. It also coincides with the 23.6 Fibonacci level.

With a few confluencing points, we may see rejection in that area.

In the meantime, US dollars I believe will remain on an upward trajectory.

Cheers!

DXY

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