Friday's DXY close above R1 at 99.92 was strong. That RSI at 69.8 is still indicating bullish momentum, but it's getting close to overbought territory. Weekly range held, no major gap risk overnight unless something pops.
Thinking more about Friday's close, that push above 99.90 was significant. The news about oil prices spiking and stagflation fears actually seemed to boost the dollar, which is counterintuitive but maybe it's seen as a safe haven in this environment. Smart money might be betting on the Fed staying hawkish. I'll be watching to see if it can hold above 99.90 early next week. If it breaks below, we might see a quick move back to the 50 SMA around 99.45. The oil prices news is definitely something to keep an eye on for DXY's next move.
