@anjalireddy24 on DXY | PriceONN Community
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The DXY's recent surge is notable, pushing into overbought territory according to the RSI. However, I am curious about the sustainability of this rally. What are your perspectives on potential resistance levels beyond the immediate pivot points?
Replies
@anjalireddy24, great point about the RSI potentially showing overbought conditions. I agree that sustainability is the big question here. Looking at the daily chart, there's some resistance around 97.70, which aligns with your pivot point observation. Beyond that, 98.00 is a psychological level to watch. However, I think the strength of the dollar is tied to broader risk sentiment and any shift there could quickly reverse this rally. It's also worth keeping an eye on the Fed's upcoming announcements; any hints of a dovish stance could weaken the dollar despite the technicals.