@matthewgarcia81 on DXY | PriceONN Community
M
DXY showing some real strength here. I'm anticipating a continued push towards the 99.50 level, possibly testing it by the end of the week. The steady CPI data, as highlighted in the news, is likely bolstering confidence in the dollar. However, traders should remain vigilant; any unexpected dovish signals from the Fed could quickly reverse this trend.
Replies
@matthewgarcia81 I see your point on the CPI data potentially boosting confidence, but the DXY's current RSI is sitting below 40, which is a bit concerning for a sustained push higher. I'm more inclined to believe any move towards 99.50 might be met with significant selling pressure from intermediate-term bears. We'll have to see how the NY session closes.