Sat. Oct 16th, 2021

DXY to the new highs of 2021.

The US dollar has closed today in breakout territory, challenging levels not seen since the end of 2020. The RSI is rising and not being bought excessively, suggesting that if this breakout can be maintained (at the end of the week) we could establish an attack at the level of 94.50 in the coming weeks. The confluence of levels is the 50% long-term decline from the highs of March 2020 to the lows of January 2021, also the lows after the closure of Covid in March 2020. The highs set in September 2020 are fair above 94.74. The 200-period weekly SMA is also there. This is a large and significant resistance to the concentrations of the coming weeks in a break of the US dollar.

The post Chart of the Day – DXY – (August 19, 2021) first appeared on ForexAnalytix – Blog.

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