@oluchi3389 on DXY | PriceONN Community
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Reviewing the week's close, DXY's struggle to break decisively above the 96.70 resistance suggests underlying weakness. The RSI's neutral reading doesn't offer much clarity, but the converging SMAs indicate a potential for a significant move in either direction. A sustained break below 96.50 could trigger a sharper decline, while a push above 96.80 might pave the way for a test of the 200 SMA. I'll be watching for confirmation early next week. It's also worth considering the broader macroeconomic context, particularly any developments related to inflation or interest rate expectations, as these factors could exert considerable influence on the dollar's trajectory. The market seems hesitant, and this indecision may persist until a clear catalyst emerges to drive a more decisive move.