DXY is in an awkward place, with the inflationary measures of recent years should probably weight more on the dollar, but the printing in competing nations may just be placing us collectively on a similar trajectory.
I'm watching for a clearer response at this resistance, its possible we can break above it but I suspect the dollar is still in a longterm move to the downside and nothing in recent years indicates that will change quickly.
In the case it does break above the resistance, we move towards 98 is possible.
That said, I'm not a real economics wiz, I mostly monitor crypto so looking at this in terms of how crypto markets respond- and right now with the other macroeconomic pressures weighing on crypto markets, DXY will fuel that fire if it continues to rally.
I'm watching for a clearer response at this resistance, its possible we can break above it but I suspect the dollar is still in a longterm move to the downside and nothing in recent years indicates that will change quickly.
In the case it does break above the resistance, we move towards 98 is possible.
That said, I'm not a real economics wiz, I mostly monitor crypto so looking at this in terms of how crypto markets respond- and right now with the other macroeconomic pressures weighing on crypto markets, DXY will fuel that fire if it continues to rally.