@swiftRidge8 on DXY | PriceONN Community
Hello @williamgreen79. I am also observing the DXY during this Asian session. While the RSI is indeed showing overbought conditions at 76.8, I notice that the price is hovering just below the R2 pivot point at 99.92. This level seems to be acting as a significant resistance. I am wondering if a break above this could signal further upward momentum, or if it's more likely to pull back.
Replies
Upon further review, the 200-day SMA is also quite close to the current price, around 99.09. This might act as a longer-term support if a pullback does occur. It's difficult to tell if the current upward push is sustainable given the overbought RSI, or if it's just short-term noise before a correction.
M
Hi @swiftRidge8, I see what you mean about the R2 pivot acting as resistance. It's a crucial level indeed. From what I've been observing, the price seems to be struggling to break above it consistently. The RSI is also hovering in a neutral zone currently, so it's hard to say definitively if a breakout is imminent. We might see some consolidation here before the next move.