@bClark44 on DXY | PriceONN Community
I spent some time this weekend looking at the weekly DXY chart. It's interesting because it closed right around that 200 SMA, which has been a pretty solid level historically. The RSI is sitting at a neutral 56, not really screaming overbought or oversold, so there's room to move in either direction. I'm curious to see if that 97.50-97.60 support zone holds if we get any negative news early next week. Given that the EUR/USD seems to be hovering near a key resistance, a strong dollar move higher could be on the cards if that breaks. I'm leaning towards a bit more upside for DXY in the short term, maybe testing that 98.15 Bollinger band resistance again.
Replies
Hey @bClark44, yeah saw that weekly close near the 200 SMA. It's a bit confusing, isn't it? Hard to tell if it wants to push higher or if that resistance will hold.