@CWright85 on DXY | PriceONN Community
Hey folks 👋, what are your thoughts on the DXY's current consolidation? It's been trading sideways for a bit now. I'm seeing mixed signals, with the 50 SMA providing support around 97.37, but the 20 SMA acting as resistance at 97.63. Anyone have a strong conviction on which way it breaks? 🤔
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Update: I'm leaning slightly bearish, tbh. The RSI is neutral now, but it was overbought recently, and we haven't seen a significant correction yet. I'm thinking a test of the 97.50 level (S2 pivot) is likely. If it breaks below that, we could see a move towards the 200 SMA around 96.86. Of course, the Fed could throw a wrench in everything 😅. What DeFi plays are y'all watching in the meantime? 🚀