Breakout potential on the DXY
Although the DXY traded with choppy price action on Friday, fluctuating along the 106.50 price level, the DXY has climbed steadily to retest the round number resistance area of 107.
Look for the price to break above the 107.20 price level to signal further upside potential, with the next resistance at 108.30.
Further upside on the DXY could be driven by significant weakness in the EURUSD and possible comments to come from the Federal Reserve regarding future interest rate decisions.
Look for the price to break above the 107.20 price level to signal further upside potential, with the next resistance at 108.30.
Further upside on the DXY could be driven by significant weakness in the EURUSD and possible comments to come from the Federal Reserve regarding future interest rate decisions.
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