@manJames53 on DXY | PriceONN Community
Reviewing the DXY's recent performance, I'm seeing a struggle to maintain momentum above the 96.90 level. The 20-day SMA at 96.92 is acting as immediate resistance. A break above this level could signal a potential test of the 97.00 mark, but current RSI doesn't suggest strong upward movement. Watching for confirmation before any significant position changes.
Replies
Update: Further analysis of the Bollinger Bands indicates a narrowing range, suggesting potential volatility ahead. The lower band at 96.72 could act as a support level if the DXY retraces. It might be prudent to wait for a clearer breakout before committing to a directional trade. Still monitoring the RSI for divergence signals.