DXY looked shaky the past week because of the lead up to the NFP data. Now that it is out, and stronger than expected, DXY and US10Y have seen bounces at critical support levels.
With DXY finding support around the 0.236 fib level and the 20W EMA, we can expect further moves up to test the 0.382 fib level around 105.4.
Today's DXY move up was huge, and I think this is where the equity markets begin to fall as well.
With DXY finding support around the 0.236 fib level and the 20W EMA, we can expect further moves up to test the 0.382 fib level around 105.4.
Today's DXY move up was huge, and I think this is where the equity markets begin to fall as well.
Trade closed: target reached:
We've pretty much reached the 105.4 level on DXY. This is heavy resistance!
