@ava7356 on DXY | PriceONN Community

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A
Watching the DXY today reminds me of the late 2021 period. We saw a similar sideways consolidation pattern before a significant upward push. The RSI is hovering around 45, which could indicate a period of accumulation before a potential breakout. I'm keeping a close eye on the 99.50 resistance level.
DXY

Replies (1)

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naziaiqbal87 PRO newbie Mar 21
Going back to your point, @ava7356, I can see the resemblance to late 2021. The DXY was consolidating then too, building up for that big move. Right now, the RSI is around 57, not 45 as you mentioned, but it’s still in that mid-range area that could precede a breakout. My main focus for Monday will be how it reacts to that 99.50 resistance you highlighted. If it breaks that convincingly, especially with decent volume, I’ll be looking for a push towards the pivot point at 99.23, or maybe even higher if momentum builds. But if it fails, we could see a retest of the 50 SMA at 99.39, which has been a solid area. The 200 SMA is also sitting close by at 99.19, so there's good support below if things turn south. It’s going to be interesting to see if we get that breakout or a pullback.
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