Bull Bias in the DXY??
The US dollar has climbed higher but is encountering resistance at 98.82, confirmed by multiple red triangles on the KRI. This suggests a retracement is highly likely especially because we are near a strong technical level at 98.82. We appear to be seeing this retracement right now, with a retracement. We should see support at 98.22 if we continue further. Overall, we seem to be holding the range between 97.73 and 99.40. If we seek highs again, we could test highs again at 99.40, which could indicate a bull wedge is forming and if so, 99.82 is our next target. If we retrace again, then support should hold at 97.73.
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