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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.
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