The US Dollar Index (DXY) is currently trading around 106.70. On the 4-hour chart, DXY is testing a resistance
DXY zone near 107.00–107.13, which aligns with the 61.8% Fibonacci retracement of a prior move. If this level is breached, the next target could be 107.50 or higher, signaling a continuation of the uptrend. However, failure to break above this resistance could result in a pullback, with support seen at 106.10, followed by the 105.63–105.78 range.
In summary, DXY is at a critical juncture. A breakout above its resistance would likely fuel further bullish momentum, while a rejection may see it revert to lower support levels.
In summary, DXY is at a critical juncture. A breakout above its resistance would likely fuel further bullish momentum, while a rejection may see it revert to lower support levels.
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