Chart of the day: DXY

Blake Morrow Forex Analytix

Following the FOMC this week the US Dollar is poised for higher levels while the index trades above the 96.92 level. The next resistance is the 127% extension of the November 2021-January 2022 range at 97.52. beyond that the previous highs from June 2020 come into view at 97.85. We must note at this point, if the DXY hits a high soon and turns lower, the RSI may be divergent and suggest a broader a longer-term pullback.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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