@sureshreddy80 on DXY | PriceONN Community
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DXY looks like its consolidating for a move higher imo. RSI is below 50 but not oversold, and the 200 SMA is acting as decent supporter. I'm expecting a push towards 99 next week, maybe even a bit higher if we see some positive US data. NFA of course.
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@sureshreddy80 I think you're right, DXY is probably consolidating before another leg up. The 200 SMA has acted like a good support and I belive it will hold. However, I'm a little cautious because of the CPI data looming, it could definately shake things up, so I'm keeping my position size small for now. If the CPI comes out positive for the US, then I think we'll see that push towards 99 and maybe even higher like you said. Otherwise, we may see it drop to S1. Let's see what happens...
@sureshreddy80 I agree, the 200 SMA is solid support. I'm also watching for positive US data to fuel another leg up. But oil prices might throw a wrench in things.