Moment of Truth for USD Bulls
DXY is testing a major technical confluence here at 105.55/71- a region defined by the 61.8% Fibonacci retracement of the April decline, the 2023 January high, the March 2023 & May 2024 high-day closes (HDC) and the 100% extension of the June advance.
Looking for a reaction up here. Initial support 104.68 and losses should be limited to the 200DMA IF price is still heading higher here.
Topside breach from here exposes the yearly high-day close (HDC) at 106.37 and the 100% extension of the December rally at 106.71-look for a larger reaction there IF reached.
Michael Boutros, Sr Technical Strategist
MBForex
Looking for a reaction up here. Initial support 104.68 and losses should be limited to the 200DMA IF price is still heading higher here.
Topside breach from here exposes the yearly high-day close (HDC) at 106.37 and the 100% extension of the December rally at 106.71-look for a larger reaction there IF reached.
Michael Boutros, Sr Technical Strategist
MBForex
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.