@DanielDavies56 on DXY | PriceONN Community

Looking at the hourly chart again, that 99.28 level is proving to be a solid support, coinciding with the 20-period SMA. If DXY breaks below that decisively, I'd be worried about a sharper pullback, possibly towards the 200-day SMA around 99.07. The recent wholesale price data showed inflation is still a concern, which should theoretically support the dollar, but the market seems hesitant. It's a bit of a mixed signal right now, makes me want to stick to very small position sizes.

Hello @DanielDavies56, I'm also feeling a bit confused by the DXY signals today. The RSI is quite high, suggesting overbought conditions, but the price action isn't really showing a strong reversal yet. And with the PPI data from being so hot, I thought the dollar would be stronger. It's hard to tell if we're consolidating for a big move up or if it's going to pull back.