@JessicaHiker on DXY | PriceONN Community

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J
JessicaHiker PRO newbie
DXY Apr 16
This DXY action around the 97.80s feels very familiar. I remember a similar period back in late 2022 when the dollar stalled out just before the major year-end rally. The confluence of the 20 and 50 SMA being flatlined here at 97.82 is also a sign of indecision, much like then. We'll need to see if it can break through the pivot point at 97.98 to confirm any further upside.
DXY

Replies (1)

J
JessicaHiker PRO newbie Apr 16
Yeah, and if you look at the weekly chart, we're still well below the 200 SMA at 98.60, which has acted as significant resistance in the past. So even if we get a push above the daily pivot, there's still a decent ceiling overhead. The news about the dollar softening is definitely playing a role, but traders are also looking at what's happening with other pairs like EURUSD and GBPUSD, which are starting to show some strength. It makes sense to watch how DXY reacts to the S1 pivot at 97.95; a break below that could really trigger more selling pressure.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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