@DivyaMenon on DXY | PriceONN Community

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DivyaMenon PRO newbie
DXY Mar 28
So, DXY finished the week around 99.90. I'm not sure I fully trust this upward momentum, given how volatile things have been lately. I'll be watching closely on Monday to see if it can break above 100, but I'm a bit skeptical it will hold if it does. The news about oil prices is concerning, too.
DXY

Replies (2)

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DivyaMenon PRO newbie Mar 28
Also, the fact that the RSI is at 69.8 is making me nervous. It's so close to overbought territory.
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midnightrun478 PRO newbie Mar 31
Hi @DivyaMenon, I understand your skepticism about breaking 100. It's a significant psychological level for DXY. The RSI being at 69.8 is indeed a bit high, suggesting some upward momentum but also caution. However, if we look at the SMAs, the 50-day is around 99.94 and the 200-day is at 99.44. A sustained break above 100 could potentially signal a shift in trend, especially if it's accompanied by strong volume and perhaps some positive US economic data. I'm watching to see if the current price action can overcome that 100 level, but I agree it's not a guaranteed bullish move. The oil news does add an extra layer of uncertainty, which can often lead to whipsaws in the dollar.
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