(DXY) rose above 101.51, above the MM100. Should the DXY close the day above this level it could break the bullish channel and head towards its next resistance at 102.215
Meanwhile, RSI indicator on the daily chart rose slightly above 80, pointing to exhaustion on bullish momentum.
If it fails to break through the channel, sellers may show interest and drag the DXY to its support at 101.2, a strong support and psychological level.
Let's keep an eye on the economic agenda today, today's April PI may further reinforce this narrative of a pause in the Fed's rate hike next, and today's weekly jobless claims are expected to remain flat.
Key support levels: 101,517 / 101,207
Main Resistance Levels: 101,941 / 102,215
MM100: 101,517
Meanwhile, RSI indicator on the daily chart rose slightly above 80, pointing to exhaustion on bullish momentum.
If it fails to break through the channel, sellers may show interest and drag the DXY to its support at 101.2, a strong support and psychological level.
Let's keep an eye on the economic agenda today, today's April PI may further reinforce this narrative of a pause in the Fed's rate hike next, and today's weekly jobless claims are expected to remain flat.
Key support levels: 101,517 / 101,207
Main Resistance Levels: 101,941 / 102,215
MM100: 101,517