Fundamental Analysis:
The DXY (US Dollar Index) has experienced an upward trend due to positive CPI and PPI data, while the onset of deflation in the USA offers an opportunity for investors to reconsider the US economy for investments. Improved inflation and unemployment rates in the USA compared to other countries could lead to increased demand for the USD. However, this theory requires consideration of other factors.
Technical Analysis:
DXY has seen a significant bullish wave from around 99.700 to a strong resistance near 103.
The price's behavior at this resistance is pivotal – a breakout could continue the bullish trend towards a target of 104, while rejection might lead to a USD distribution and potential decline to levels around 99.600 or 96. Monitoring the price in relation to this resistance is crucial for traders and investors.
DXY
overall view
https://www.tradingview.com/x/AePmSYln/
The DXY (US Dollar Index) has experienced an upward trend due to positive CPI and PPI data, while the onset of deflation in the USA offers an opportunity for investors to reconsider the US economy for investments. Improved inflation and unemployment rates in the USA compared to other countries could lead to increased demand for the USD. However, this theory requires consideration of other factors.
Technical Analysis:
DXY has seen a significant bullish wave from around 99.700 to a strong resistance near 103.
The price's behavior at this resistance is pivotal – a breakout could continue the bullish trend towards a target of 104, while rejection might lead to a USD distribution and potential decline to levels around 99.600 or 96. Monitoring the price in relation to this resistance is crucial for traders and investors.
DXY overall view
https://www.tradingview.com/x/AePmSYln/
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