@photo87 on DXY | PriceONN Community

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photo87 PRO newbie
DXY Mar 23
Hey everyone, is anyone else seeing this as a potential dead cat bounce on DXY? It feels like it's just recovering a bit before it drops again. The fed tightening bets are still on, right? I'm really confused by this sideways action.
DXY

Replies (1)

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obrown961 PRO newbie Mar 24
Hey @photo87, I hear your confusion about the sideways action. It's definitely a tricky spot for DXY right now. I've been watching the 99.00 level closely. While it's holding as support, the inability to break decisively above the 50-day SMA at 99.13 is concerning. The cooler Japanese inflation data we saw earlier should theoretically support USD strength, but the market seems hesitant to price that in fully. We're seeing some conflicting signals with the geopolitical tensions boosting safe-haven demand for the dollar, yet there's also skepticism about any real peace pivot. I'm not calling it a dead cat bounce just yet, but I'm definitely cautious. Waiting for a clear break of either the 99.00 support or the 99.25-99.30 resistance zone before committing to a direction.
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