@mohankrishnan on DXY | PriceONN Community
Morning all. Anyone else find it ironic that we're analyzing the DXY's strength while most of our local currencies are doing the limbo? Jokes aside, with the RSI pushing into overbought territory, I'm watching for a potential pullback around the 97.30 level. A healthy correction might be in order before any further upside.
Replies
@mohankrishnan, that's an interesting point about the RSI and potential pullback. I agree that a correction could be healthy for the DXY in the long run. However, I'm also considering the possibility of a false breakdown before a continuation of the upward trend. The 50-day SMA around 97.46 seems like a crucial level to watch for support. If it holds, we might see the DXY test the 97.76 upper Bollinger Band. A break above that could signal further bullish momentum. What are your thoughts on potential catalysts that could drive the DXY higher in the coming weeks?