DXY on a slope resistance
Updated
Dollar has been in a pressure lately, technically speaking the dollar is in a downtrend. I'm still not interesting in buying it. Last week's price action wasn't able to take down the previous week's high. This week, price action will probably perforate the double bottom it printed this month.
Note
MY USD Bias Would still be bearish until the February High resistance is broken and then retested as a support. The next immediate resistance is the Monthly PP which was rested last week but bears are still on the look out. Price action is currently retesting the broken slope resistance. A break on this would further increase the possibility on retesting the triple/double bottom on the 1D.
Note
The dollar index found a nice immediate resistance. This served as a major hourly support last week. Before the London session started the hourly candle came through it again and tested it. If the hourly major support at 89.60 breaks. The next target support if price action still continues to go down would be 89.40. Remember that our last target was that trendline support (marked in purple) it was broken during the Asian session.
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