US Dollar Index price prediction

[bonk]

The US Dollar Index (DXY) reached the 100.54 resistance on Friday, which is a critical level to watch out for.

DXY daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA (98.76) and the RSI near the overbought zone suggest that the path of least resistance is to the upside. If buyers thrust the price above the 100.54 level, the index might start a new uptrend to the 102 level and later to the 103.54 level.

Contrary to this assumption, if the price turns down sharply from the current level and breaks below the moving averages, it suggests that the index may remain inside the 95.50 to 100.54 range for some more time.

[madmax]

Macro still matters more than people want to admit