DXY - 11Feb2022
The US CPI data came out higher than expect last night and the market participants will be digesting the data for the next move today.
On the H4, price whipsawed in between support around 95.20 and resistance at 95.95. This morning it gapped up right at the neckline resistance at 95.950. With 20EMA & 50MA resistance on the daily, we could expect price to pull lower back to support at 95.20. Also to note that Stochastic is coming into descending trendline resistance which adds to the further bearish pressure.
This is for personal record purposes only, not financial advise or solicitation of trade.
The US CPI data came out higher than expect last night and the market participants will be digesting the data for the next move today.
On the H4, price whipsawed in between support around 95.20 and resistance at 95.95. This morning it gapped up right at the neckline resistance at 95.950. With 20EMA & 50MA resistance on the daily, we could expect price to pull lower back to support at 95.20. Also to note that Stochastic is coming into descending trendline resistance which adds to the further bearish pressure.
This is for personal record purposes only, not financial advise or solicitation of trade.
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