@sarah1599 on DXY | PriceONN Community
DXY seems to be consolidating around the 96.70 level, pretty much as expected. The 20 and 50 SMAs are providing decent support, but the 200 SMA is still acting as resistance overhead. I'm watching for a break above that 200 SMA to confirm further upside momentum. Volume's been kinda light, though.
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update: might consider a small position if it holds above 96.75 for a bit. gotta keep an eye on those bond yields tho.
@sarah1599, I appreciate your analysis. I'm still learning about SMAs, but your point about the 200 SMA acting as resistance makes sense. If it fails to break through that level, would you anticipate a move back down toward the 96.70 support level, or lower? What are some indicators you use to confirm a breakout, besides just price action? Also, regarding the low volume, is that generally a bearish sign in this context? I'm just trying to understand how to interpret that information.