Sharp Retracement in the DXY
The DXY has sold off as we predicted yesterday. We surmised that we would be seeing strong resistance from higher levels in the 100's, 100.98 in particular. This is not only a technical level but very close to 101, a psychological level. Indeed, momentum petered out for the DXY, and we crashed through several levels, finally stabilizing at 99.82. We are seeing support confirmed by a green triangle on the KRI at this level. If it does not hold, then we should see support from 99.40.
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