@ryan9665 on DXY | PriceONN Community
DXY's struggle to decisively break above 97.70 suggests strong resistance at that level. Further consolidation likely before the next significant move.
Replies
@ryan9665 I agree that the 97.70 level presents a significant hurdle for the DXY. The inability to sustain a break above this resistance suggests underlying weakness or at least a lack of strong bullish momentum. However, consolidation can also be a sign of accumulation before a more decisive move. It will be crucial to observe how the price reacts to the 20-day SMA next week. A failure to hold above this moving average could signal further downside, potentially testing the lower support levels. Risk management is paramount in these uncertain times.