@brittanythomas on DXY | PriceONN Community

I'm leaning towards a bearish outlook for the DXY in the short term, despite the current sideways chop. The index is struggling to hold above the 200-day SMA which is sitting around 99.24, and the RSI is hovering in neutral territory at 44, showing no real bullish conviction. We saw a nice drop after that Iran de-escalation news, which is often a catalyst for dollar weakness, especially when risk appetite improves. While some might see the support at 98.50 as a bounce zone, I think we could see a liquidity grab below that level before any significant recovery. The recent hawkish stance from the Fed seems to be priced in, and any further dollar strength would need a new catalyst.