US Dollar Resumes Rally

10 thg 6, 2022

The DXY has rallied breaking through resistance at 102.86, which remained a hard upper bound to the price range established this week. The US dollar is at multi-year highs against many other major world currencies such as the Yen and the Euro. We have smashed through 102.86, finding immediate resistance at 103.82, which was our next technical level after 102.86. Currently, we appear to be breaking out further, into the vacuum zone between 103.24 and 104.00. If momentum persists, we should be able to test 104's, otherwise, watch for support at 102.86, then 101.70.