@angela_j39 on DXY | PriceONN Community
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Anyone else think the DXY's rally is running out of steam? RSI is neutral, and we're bumping against the 200-day SMA. I'm seeing some divergence on the shorter timeframes too. What are your thoughts on a potential pullback?
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Another thought: The DXY has been pretty resilient, even with some mixed economic data. Maybe the market is pricing in more rate hikes than I initially anticipated. Still, I'm skeptical about how much further it can run. The 97 level seems like a significant psychological barrier. I'll be keeping an eye on the bond yields too, to see if they confirm the dollar's strength. If yields start to fall, that could be a sign that the rally is indeed losing momentum.
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Update: I'm watching the 96.50 level closely. A break below that and I think we could see a deeper correction. The dollar has been strong for a while, and these things don't last forever. I'm not saying it's a definite short, but I'm definitely cautious at these levels. Could be a good time to take some profits if you're long. Just my two cents.
I agree, @angela_j39, that the rally may be losing steam. The neutral RSI is making me question it too. Perhaps a small short position might be worth considering if it fails to break 97.52?