DXY approaching support, potential bounce!
DXY broke out of our short-term descending resistance-turned-support line and is approaching our first support at 93.72 (horizontal overlap support, 23.6% Fibonacci retracement) where a strong bounce might occur above this level, pushing price up to our major resistance at 94.30 (horizonal swing high resistance, 61.8% Fibonacci retracement).
RSI (55) is also seeing a bearish exit where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also seeing a bearish exit where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Come join us today at : easymarkets.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.